CV Airports (IFC-43450)

Countries
  • Cape Verde
Geographic location where the impacts of the investment may be experienced.
Specific Location
Sal, Boa Vista, Santiago (Praia), Sao Vincente, Sao Filipe, Sao Nicolau, Maio
Whenever identified, the area within countries where the impacts of the investment may be experienced. Exact locations of projects may not be identified fully or at all in project documents. Please review updated project documents and community-led assessments.
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."
Voting Date
May 26, 2023
Date when project documentation and funding is reviewed by the Board for consideration and approval. Some development banks will state a "board date" or "decision date." When funding approval is obtained, the legal documents are accepted and signed, the implementation phase begins.
Borrower
CABO VERDE AIRPORTS S.A.
A public entity (government or state-owned) provided with funds or financial support to manage and/or implement a project.
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, guarantee, technical assistance, advisory services, equity and fund.
Loan Amount (USD)
$ 32.99 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 30
Converted using 2023-04-07 exchange rate.
Project Cost (USD)
$ 148.45 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 135
Converted using 2023-04-07 exchange rate.
Bank Documents
Primary Source

Original disclosure @ IFC website

Updated in EWS Apr 21, 2023

Disclosed by Bank Apr 7, 2023

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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.

The Project entails financing the refurbishment, maintenance and operation of Cabo Verde’s airport network consisting of four international and three domestic airports spread across seven islands, under a 40-year concession. Vinci Airports SAS, in consortium with ANA – Aeroportos de Portugal, was awarded the concession by the Government of Cabo Verde (the Grantor) on 4-May-2022, and the Concession Agreement (CA) was signed on 18-Jul-2022. Under the CA, the Concessionaire Cabo Verde Airports S.A. will commit to capital investments in the airports and to pay concession fees to the Grantor. The overall investment will be split into two phases, namely Phase 1-A and Phase 1-B. The Project relates to Phase 1-A only.

Investment Description
Here you can find a list of individual development financial institutions that finance the project.
Private Actors Description
A Private Actor is a non-governmental body or entity that is the borrower or client of a development project, which can include corporations, private equity and banks. This describes the private actors and their roles in relation to the project, when private actor information is disclosed or has been further researched.

From the IFC's website:

Vinci Airports S.A.S. and ANA – Aeroportos de Portugal are expected to own respectively 70% and 30% of the special purpose vehicle (SPV) Cabo Verde Airports S.A, which was registered in Cabo Verde in May-2022. Headquartered in Paris, Vinci Airports S.A.S. is one of the largest global airports operators, managing in total 65 airports across 12 countries in Europe, South Asia and Latin America, and handling 187 million passengers in 2022. A 100% subsidiary of Vinci Airports, ANA – Aeroportos de Portugal is Portugal’s lead airport operator, with 10 airports under concession.

Private Actor 1 Private Actor 1 Role Private Actor 1 Sector Relation Private Actor 2 Private Actor 2 Role Private Actor 2 Sector
- - - - ANA – Aeroportos de Portugal Parent Company Transport
- - - - VINCI Airports SAS Parent Company Transport

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.

General IFC Inquiries - IFC Communications:

Address: 2121 Pennsylvania Avenue, NW, Washington DC 20433
Telephone: 202-473-3800
Fax: 202-974-4384

Parent Company - Vinci Concessions:

Mathieu Seruzier - Structured Finance Director
Phone: +33 1 47 16 35 00
Email: Mathieu.seruzier@vinci-concessions.com
Address: 1973 Boulevard de la Défense - 92000 Nanterre - France
Website: www.vinci-concessions.com 

ACCESS TO INFORMATION

You can submit a request for information disclosure at: https://disclosures.ifc.org/#/inquiries

If you believe that your request for information from IFC has been unreasonably denied, or that this Policy has been interpreted incorrectly, you can submit a complaint at the link above to IFC's Access to Information Policy Advisor, who reports directly to IFC's Executive Vice President.

ACCOUNTABILITY MECHANISM OF IFC/MIGA

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

How it works

How it works