Antalya Airport II (EBRD-55775)

Regions
  • Europe and Central Asia
Geographic location where the impacts of the investment may be experienced.
Countries
  • Turkiye
Geographic location 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
Proposed
Stage of the project cycle. Stages vary by development bank and can include: pending, approval, implementation, and closed or completed.
Bank Risk Rating
A
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
Mar 12, 2025
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
Fraport TAV Antalya Yatirim Yapim ve Isletme A.S.
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.
Investment Amount (USD)
$ 233.97 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 225
Converted using 2025-02-05 exchange rate.
Loan Amount (USD)
$ 233.97 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 225
Converted using 2025-02-05 exchange rate.
Project Cost (USD)
$ 3,951.49 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 3800
Converted using 2025-02-05 exchange rate.
Other Related Projects
Primary Source

Original disclosure @ EBRD website

Updated in EWS Feb 11, 2025

Disclosed by Bank Feb 5, 2025

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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.

As stated by the EBRD, the project consists of the provision of a senior loan of up to EUR 225 million in favour of Fraport TAV Antalya Yatirim Yapim ve Isletme A.S. as part of a long-term project finance loan to be provided to the Company. The Company is an SPV established in Turkiye for the purposes of operating Antalya Airport between 2027 and 2051, within the scope of a new 25-year concession awarded by the Turkish State Airports Authority in 2021.

The proceeds of the loan are expected to: (i) refinance the bridge loan raised by the Company between 2022-2024, and (ii) finance associated interest, financing and other expenses. By refinancing a bridge loan, the operation is expected enable the Company to replace a temporary financing solution with a sounder and long-term project finance loan.

Antalya Airport is the gateway to a leading leisure tourism destination in Europe and 3rd largest airport in Turkiye, having served 38.2m passengers in 2024.

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

As stated on the project disclosure page, the Bank will seek to mobilise B and parallel lenders.

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.

As stated by the EBRD, the Company is 51% owned by TAV Havalimanlari Holding A.S. ("TAV") and 49% owned by Fraport AG Frankfurt Airport Services Worldwide ("Fraport"). Fraport and TAV (the "Sponsors") also jointly own Fraport TAV Antalya Terminal Isletmeciligi A.S., which will be operating AYT under an ongoing concession running until the end of 2026.

Private Actor 1 Private Actor 1 Role Private Actor 1 Sector Relation Private Actor 2 Private Actor 2 Role Private Actor 2 Sector
Fraport Investor Transport invests in Fraport TAV Antalya Yatirim, Yapim ve Isletme A.S. Client Transport
TAV Airports Holding Parent Company Transport contracts with Fraport Investor Transport
TAV Airports Holding Parent Company Transport owns Fraport TAV Antalya Yatirim, Yapim ve Isletme A.S. Client 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.

Client - Fraport TAV Antalya Yatirim Yapim ve Isletme A.S. :

Artun Turan - Michael Reusch
Email addresses: artun.turan@tav.aero / m.reusch@fraport.de
Phone numbers: + 90 212 463 30 00 / +49 69 690-21674 / +90 212 465 31 00
Website: https://www3.antalya-airport.aero
Address: Yenigol Mahallesi, Serik Cad., Dis Hatlar 1 Nolu Terminali Sit. No: 100/1 Muratpasa, Antalya, Turkiye

ACCESS TO INFORMATION

You can request information by emailing: accessinfo@ebrd.com or by using this electronic form: https://www.ebrd.com/eform/information-request

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 at: 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

How it works

How it works