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The African Development Bank (AfDB) will lead the effort to mobilize nearly $8 billion in funding for Ethiopia's new international airport.
AfDB has been appointed as the lead arranger, global coordinator and book runner to secure the capital.
Subject to board approval, the lender itself plans to also provide $500 million to help finance the mega project, which is estimated to cost $10 billion.
Described as a "game changer" for African aviation, the new Bishoftu International Airport will be built 40 kilometres south of Addis Ababa.
It will initially accommodate 60 million passengers and eventually expand its capacity to 110 million. Groundwork is slated to begin late this year.
(Writing by Cleofe Maceda; editing by Brinda Darasha)
