Published: November 30, 2012
€145mn funding package includes portion syndicated to UniCredit and Siemens Bank.
The European Bank for Reconstruction and Development (EBRD) is backing a new domestic airport terminal in Izmir, Turkey’s third-largest city.
The terminal will be built alongside the existing international terminal by TAV Ege, a subsidiary of TAV Airports.
The EBRD is providing a €145mn (US$188mn) funding package comprising a €70mn loan and a further €75mn syndicated to UniCredit and Siemens Bank. A further €105mn is being provided by Denizbank (€65mn) and the Black Sea Trade and Development Bank (€40mn).
“The EBRD strategy for Turkey – where the government has initiated substantial investment programs for investment in the transport sector – gives high priority to supporting private sector participation in infrastructure development,” said Mike Davey, EBRD director for Turkey. “We will continue to support other landmark projects that will allow Turkey to meet fast-growing demand for travel, be it by land, by water or by air.”