Belgrade Airport (IFC-41123)

Countries
  • Serbia
Geographic location 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
Proposed
Stage of the project cycle. Stages vary by development bank and can include: pending, approval, implementation, and closed or completed.
Bank Risk Rating
B
Environmental and social categorization assessed by the development bank as a measure of the planned project’s environmental and social impacts. A higher risk rating may require more due diligence to limit or avoid harm to people and the environment. For example, "A" or "B" are risk categories where "A" represents the highest amount of risk. Results will include projects that specifically recorded a rating, all other projects are marked ‘U’ for "Undisclosed."
Borrower
VINCI AIRPORTS SERBIA D.O.O.
A public entity (government or state-owned) provided with funds or financial support to manage and/or implement a project.
Sectors
  • Infrastructure
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, guarantee, technical assistance, advisory services, equity and fund.
Investment Amount (USD)
$ 117.58 million
Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.
Currency conversion note:
Bank reported 100 million
Converted using 2018-09-21 exchange rate.
Loan Amount (USD)
$ 117.58 million
Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.
Project Cost (USD)
$ 1,410.93 million
Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.
Currency conversion note:
Bank reported 1200
Converted using 2018-09-21 exchange rate.
Bank Documents
Primary Source

Original disclosure @ IFC website

Updated in EWS Mar 13, 2019

Disclosed by Bank Sep 21, 2018

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Project Description
If provided by the financial institution, the Early Warning System Team writes a short summary describing the purported development objective of the project and project components. Review the complete project documentation for a detailed description.

According to IFC website,  in 2017, the Government of Serbia decided to launch the privatization of Belgrade Airport by tendering a 25-year concession for the upgrade, development and operation of the airport. VINCI Airports SAS, was selected as preferred bidder in January 2018 and the Concession Agreement was signed in March 2018. The Sponsor has committed to pay an upfront concession fee of EUR 501 million, to make capital investments in excess of EUR 700 million over the concession period and to pay annual concession fees in exchange of the right to operate the airport for the next 25 years. The project is expected to: 

(a) Improved access and quality of civil aviation services;
(b) Economy-wide impact: increase in GDP, employment and government revenues;
(c) Contribution to market creation as the first large-scale PPP project in the country;
(d) Integration: as Serbia’s largest and busiest international airport, Belgrade Airport will handle all the potential growth in international traffic and contribute to opening access to new short and long-haul markets.

Investment Description
Here you can find a list of individual development financial institutions that finance the project.

Contact Information
This section aims to support the local communities and local CSO to get to know which stakeholders are involved in a project with their roles and responsibilities. If available, there may be a complaint office for the respective bank which operates independently to receive and determine violations in policy and practice. Independent Accountability Mechanisms receive and respond to complaints. Most Independent Accountability Mechanisms offer two functions for addressing complaints: dispute resolution and compliance review.

VINCI Airports SAS
Direction de la communication
Telephone No.: +33 1 47 16 46 40
Email Address: communication@vinci-airports.com
Office Address: 12/14, rue Louis Blériot - CS 3007192506 Rueil-Malmaison Cedex – France

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/

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How it works