A major China-based financial institution has pledged US$500 million to support the development of the planned Bishoftu International Airport, Ethiopian Airlines Group (EAG) CEO Mesfin Tasew Bekele has announced. The commitment marks a significant boost for what is set to become one of Africa’s largest aviation infrastructure projects, according to reporting by Ecofin Agency.

Mesfin revealed the pledge in Rabat, Morocco, on the sidelines of the Africa Investment Forum 2026. Although he did not name the bank, he emphasized that the funding reflects growing global interest—from Asia, the Middle East, Europe, India, and North America—in backing Ethiopian Airlines’ flagship expansion.

The new airport, to be constructed near Bishoftu, carries an estimated price tag of US$12.5 billion, covering land acquisition, resettlement, construction, and financing costs. Current projections indicate a private-sector financing gap of about US$8 billion, which Ethiopian Airlines aims to close through a wide-ranging investment roadshow.

“We are engaging many financial institutions in all parts of the world… the response so far has been very, very positive,” Mesfin said, noting that discussions with lenders are accelerating.

The announcement in Morocco follows a 3 November stop in Paris, where EAG executives—supported by KPMG and Dar Al-Handasah consultants—met European investors as part of their international fundraising campaign. While the outcome of the Paris meetings has not been disclosed, the follow-up engagements in Rabat signal Ethiopia’s intent to broaden its investor base, including African partners and multilateral lenders such as the African Development Bank (AfDB), which has expressed interest in participating.

Addressing concerns over Ethiopia’s economic challenges and foreign-exchange pressures, Mesfin reassured investors of the airline’s solid financial footing. “We generate 90% of our revenue in foreign currency outside Ethiopia,” he said, explaining that this cushions Ethiopian Airlines from domestic currency volatility and supports the long-term viability of the airport investment.