On Friday, the parties signed a memorandum of understanding on a partnership to build the facility in the East African country, the finance ministry said in a statement released on Saturday, without disclosing the amount the ADB will allocate for the project.
The new airport, known as Bishoftu, will be located near the capital, Addis Ababa. Authorities have secured a location and are working on planning new homes on another plot for farmers who used the land, Mesfin Tassew, CEO of state-owned Ethiopian Airlines Group, said in November.
Bishoftu will allow Ethiopia to increase annual passenger capacity from 17 million passengers currently to more than 60 million by 2040.
Source: Bloomberg
