NEW HERAKLION INTERNATIONAL AIRPORT PPP (EIB-20140625)

Countries
  • Greece
Where the impacts of the investment may be experienced.
Financial Institutions
  • European Investment Bank (EIB)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Approved
Bank Risk Rating
U
Risk rating varies among banks and may refer only to the particular investment and not to the risk for the project as a whole. Projects marked 'U' have an 'Unknown' risk rating at the time of disclosure.
Voting Date
Dec 13, 2019
The estimate day the bank will vote on a proposed investment. The decision dates may change, so review updated project documents or contact the EWS team.
Borrower
HELLENIC REPUBLIC
The holder of the loan, grant, or other investment.
Sectors
  • Transport
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
Loan
The categories of the bank investment: loan, grant, etc.
Investment Amount (USD)
$ 200.17 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Loan Amount (USD)
$ 200.17 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Currency conversion note:
Bank reported EUR 180 million
Converted using 2019-12-13 exchange rate.
Project Cost (USD)
$ 639.43 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please see updated project documentation for more information.
Currency conversion note:
Bank reported EUR 575 million
Converted using 2019-12-13 exchange rate.
Primary Source

Original disclosure @ EIB website

Updated in EWS Dec 24, 2019

Disclosed by Bank Dec 13, 2019


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Project Description

According to EIB website, the project consists of the design, financing, construction, operation and maintenance of the New Heraklion International Airport at Kasteli on the island of Crete under a 35-year Concession Agreement. The project also includes the construction of the landside access in the form of an 18km dual-lane motorway and a 6km three-lane road, which will be handed over after construction to the State. The existing civil airport in downtown Heraklion will be closed when the new airport becomes operational and redeveloped. The project aims  to improve crucial infrastructure in touristic areas in an attempt to develop further a sector that already contributes significantly to the Gross Domestic Product and employment. The project aims to address the capacity/quality of service, environmental and social concerns around the operation of the existing airport. 

Investment Description
  • European Investment Bank (EIB)
Contact Information

No contact information provided at the time of disclosure. 

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