As global investors vie to back Africa’s next major aviation hub, Ethiopian Airlines has secured a 500 million US dollars commitment from a China-based financial institution to support its Bishoftu International Airport, Ecofin Agency reported.

The pledge is a key milestone in the airline’s ongoing campaign to attract funding for the 10 billion US dollars project.

The airline is targeting roughly 8 billion US dollars in private-sector investment to cover land, resettlement, construction, and financing costs. Chief executive Mesfin Tasew said the project has attracted interest from investors across Asia, Europe, the Middle East, India, and North America, underscoring the global appeal of Africa’s aviation sector.

The announcement in Rabat, Morocco, follows earlier meetings in Paris with European financiers, coordinated with KPMG and Dar Al-Handasah. Ethiopian Airlines is also courting African institutions and multilateral lenders, including the African Development Bank, as it broadens its investor base.

Bishoftu Airport is set to become one of the continent’s largest aviation infrastructure projects, forming a central pillar of Ethiopian Airlines’ regional and international expansion strategy. To reassure investors about financial stability, Mesfin noted that the airline earns 90 percent of its revenue in foreign currency, insulating the project from domestic currency volatility.