Greek Airports B (IFC-38905)

Countries
  • Greece
Where the impacts of the investment may be experienced.
Financial Institutions
  • International Finance Corporation (IFC)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Active
Bank Risk Rating
B
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
Mar 24, 2017
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
FRAPORT REGIONAL AIRPORTS OF GREECE MANAGEMENT COMPANY B.S.A.
The holder of the loan, grant, or other investment.
Sectors
  • Infrastructure
  • 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)
$ 81.96 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 75 million Euros
Converted using 2017-04-25 exchange rate.
Project Cost (USD)
$ 889.28 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 813 million Euros
Converted using 2017-04-25 exchange rate.
Primary Source

Original disclosure @ IFC website

Updated in EWS Aug 8, 2017

Disclosed by Bank Nov 7, 2016


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Project Description
This project consists of the privatization, upgrade, maintenance, management and operation of 7 Greek regional airports, under a 40-year concession. These airports include Rhodes, Kos, Samos, Mytilene, Mykonos, Santorini and Skiathos. Some of the immediate components will include terminal refurbishment and expansion, rebuilding of rescue and firefighting building, new landslide configurations, and new aprons. These will be completed within the first 4-years of the concession.
Investment Description
  • International Finance Corporation (IFC)
This project provides an A loan from IFC's own account and potentially the provision of interest rate swaps.
Contact Information
ACCOUNTABILITY MECHANISM OF IFC The Compliance Advisor Ombudsman (CAO) is the independent complaint mechanism and fact-finding body for people who believe they are likely to be, or have been, adversely affected by an IFC or MIGA- financed project. If you submit a complaint to the CAO, they may assist you in resolving a dispute with the company and/or investigate to assess whether the IFC is following its own policies and procedures for preventing harm to people or the environment. If you want to submit a complaint electronically, you can email the CAO at CAO@worldbankgroup.org. You can learn more about the CAO and how to file a complaint at http://www.cao-ombudsman.org/