Queen Alia International Airport (EBRD-50604)

Countries
  • Jordan
Where the impacts of the investment may be experienced.
Financial Institutions
  • European Bank for Reconstruction and Development (EBRD)
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
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
Dec 12, 2018
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
Meridiam Eastern Europe Investments 2 SAS
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)
Equity
The categories of the bank investment: loan, grant, etc.
Investment Amount (USD)
$ 34,681.56 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 30,500,000.00
Converted using 2018-12-12 exchange rate.
Project Cost (USD)
$ 34,681.56 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 30,500,000.00
Converted using 2018-12-12 exchange rate.
Primary Source

Original disclosure @ EBRD website

Updated in EWS Feb 13, 2019

Disclosed by Bank Jan 8, 2019


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Project Description

According to bank documents, this funding involves provision of an equity co-investment to acquire an indirect equity stake in Airport International Group ("AIG"), through acquiring a share of the investment made in AIG by Meridiam Eastern Europe Investments 2 SAS ("Meridiam"). AIG is incorporated in the Hashemite Kingdom of Jordan and holds the concession for the Queen Alia International Airport of Amman ("QAIA").

The proceeds of the Bank's investment will be used to acquire shares and provide a shareholder loan, plus financing other associated costs.

Investment Description
  • European Bank for Reconstruction and Development (EBRD)
Private Actors

AIG is a private shareholding company incorporated in Jordan in 2007, and was awarded a 25-year BOT concession by the Government of Jordan for the rehabilitation, expansion and operation of QAIA. In April 2018, a consortium comprising ADP Group, Meridiam Fund and Asma Capital, acquired 85.25 per cent of the shares from several selling shareholders, with ADP, one of the world's largest airport companies, increasing its stake to 51 per cent and the Meridiam Fund acquiring 32 per cent.

Contact Information

Matthieu Muzumdar
M.Muzumdar@meridiam.com 
+33 1 73 73 98 77
www.meridiam.com 
Paris, France

ACCOUNTABILITY MECHANISM OF EBRD

The Project Complaint Mechanism (PCM) is the independent complaint mechanism and fact-finding body for people who have been or are likely to be adversely affected by an European Bank for Reconstruction and Development (EBRD)-financed project. If you submit a complaint to the PCM, it may assess compliance with EBRD's own policies and procedures to prevent harm to the environment or communities or it may assist you in resolving the problem that led to the complaint through a dialogue with those implementing the project. Additionally, the PCM has the authority to recommend a project be suspended in the event that harm is imminent. You can contact the PCM at pcm@ebrd.com or you can submit a complaint online using an online form, http://www.ebrd.com/eform/pcm/complaint_form?language=en. You can learn more about the PCM and how to file a complaint at http://www.ebrd.com/work-with-us/project-finance/project-complaint-mechanism.html.