Audio By Carbonatix
The African Development Bank will contribute $500 million towards the financing of a new airport in Ethiopia, which is expected to be Africa's largest when completed in 2029, it said on Monday.
State-owned Ethiopian Airlines has signed an agreement for the design of the four-runway airport near the town of Bishoftu, around 45 km (28 miles) southeast of the capital, Addis Ababa.
The airline has said it will provide 20% of the funding for the $10 billion project, and the rest will come from creditors.
"The bank has itself earmarked up to $500 million, subject to board approval, to anchor the funding of this transformational regional integration project," the development bank said in a statement.
Last week, it said it was leading efforts to raise $7.8 billion for the project, which will have the capacity to handle 100 million passengers per year.
Latest Stories
-
Let The Constitution direct Chieftaincy to deliver “All Development Is Local”
32 minutes -
Ghana explores centre of excellence for hearing, communication and cochlear implant care
2 hours -
Schizophrenia-related disorders lead mental health cases recorded in Ghana
2 hours -
Dutch authorities enlist Ghana in hunt for fugitive drug lord Bolle Jos
3 hours -
Ghana housing finance conference adopts communiqué to improve affordable housing access
7 hours -
Special Initiatives Minister urges Wa Technical Institute to enrol more girls as EU-backed solar training lab opens
8 hours -
In the matter of my first year at the Bar
8 hours -
ActionAid Ghana calls for an end to child marriage, greater investment in girls’ rights
8 hours -
Newsfile to tackle World Cup visa scandal, beach demolitions, education strikes, BRICS bid
8 hours -
UK-Ghana Trade & Investment Summit: Trade Resource Centre to help businesses maximise UK-Ghana trade opportunities
8 hours -
Embassy of Denmark celebrates World Maritime Day
9 hours -
Linking LEAP to productive inclusion could cut extreme poverty by 2030 – UNICEF
10 hours -
Trade Ministry backs use of creative arts to rehabilitate prison inmates
10 hours -
Negotiations with government to continue despite strike suspension – GNAT
10 hours -
‘Ghana cannot afford to waste public resources; every cedi has a job’ – Ato Forson
10 hours