According to the Bank’s website, the proposed investment involves providing long-term financing for the development of the new Tashkent International Airport, a new airport to be developed under a 35-year concession at a greenfield site near Tashkent city. The Project, with an initial capacity of 20 million passengers per annum, will replace the existing Tashkent airport and offer a long-term solution, supporting sustained growth and improved connectivity for Uzbekistan.

The Project will be located circa 35km from the existing Islam Karimov Tashkent International Airport, in the Urta-Chirchik and Kuyi-Chirchik districts in the southern region of Tashkent.

This is a Category A project as per IFC's Environmental and Social Sustainability Policy due to its potential significant adverse environmental or social risks and/or impacts that are diverse, irreversible, or unprecedented.

Key environmental and social (E&S) aspects and potential risks associated with the Project are:
(i) adequacy of Environmental, Health, Safety and Security (EHSS) management capacity and adequacy of systems during construction and operation phases;
(ii) management of E&S interfaces between landside and airside during construction;
(iii) assurance of fair & safe labor working conditions and management of Occupational Health and Safety (OHS) of workforce including contract workers;
(iv) contractors management;
(v) planned and unplanned labor influx;
(vi) management of supply chain risks;
(vii) community health and safety impacts, including vehicular traffic during construction and noise impacts during operation;
(viii) physical and economic displacement as a result of direct or indirect Project activities;
(ix) impacts on Natural Habitats;
(x) cultural heritage impacts; and
(xi) stakeholder engagement and community grievance mechanism.

The project cost is estimated to be around US$3.0 billion to be financed with a combination of debt and equity.

IFC's Investment involves a 20-year loan of up to US$200 million, mobilization through B loans and/or parallel loans of up to US$200 million, and risk management instruments in the form of interest rate swaps to cover part of the overall debt financing.

The Project will be implemented through a special-purpose vehicle which will be owned 45% by Vision International Investment Company, 30% by Sojitz Corporation through its subsidiary, 15% by a joint venture of Incheon International Airport Corporation (IIAC) and Korea Overseas Infrastructure & Urban Development Corporation (KIND), and 10% by Uzbekistan Airports (UzAirports).

For Inquiries About the Project, Contact:
Vision Invest
Bakhrom Abdukadirov
Taa@visioninvest.com
121-124 Office, Trilliant Business Center, 2/1 Shakhrisabz, Tashkent, Uzbekistan
www.tashkentairportalliance.com

Local Access of Project Documentation:
Mahallas office located at Urtachirchiq district, Halqabod MFY, Baqovul street, Tashkent region, Uzbekistan          

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