The Ethiopian Airlines Group has signed a letter of intent with the African Development Bank (AfDB) to launch a partnership for the ambitious Bishoftu International Airport Project. Mesfin Tasew, CEO of Ethiopian Airlines, and Nnenna Nwabufo, vice president of Regional Development, Integration & Strategy at AfDB signed the agreement. The two officials expressed their intent to consolidate the existing partnership through strategic and innovative engagements to benefit Ethiopia and the wider region. Ethiopian Airlines’ mega project, involving the construction of Bishoftu International Airport, is estimated to cost around 7.8 billion dollars and projected to elevate its annual passenger capacity from 17 million to over 60 million by the year 2040. During the signing, Ahmed Shide, Minister of Finance, praised the AfDB's ongoing support for Ethiopia's development and disclosed that it has a current portfolio investment exceeding 1.2 billion dollars across key sectors. Akinwumi Adesina (PhD), president of the AfDB, reaffirmed the AfDB’s commitment to the project, categorising it as a flagship initiative for Africa. He also noted Ethiopia's impressive 8.1pc GDP growth recorded last year.