Fraport Successfully Secures Lenders to Finance Regional Airport Privatization Project

Wednesday, February 8th, 2017
Last Update: 19:07

The privatization project involving 14 regional airports in Greece is going ahead as scheduled according to banking sources who report that Fraport Greece has secured the necessary financing with four international credit institutions and a local bank.

The lenders for the project include the European Investment Bank, the European Bank for Reconstruction and Development, the International Finance Corporation (a World Bank subsidiary), the Black Sea Trade and Development Bank and Alpha Bank.

According to the state contract, the total amount of financing required for the airport concession agreement to be sealed involves an initial down payment of 1.23 billion euros, and sources report that Fraport Greece has committed an additional 330 million euros in investment to improve the 14 airports by 2020.

Some figures put the total investment for the privatization project of the 14 region airports as high as 400 million euros.

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