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Serbia: A loan to finance Belgrade Airport’s expansion
Project
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Signature date
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Location
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Serbia
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Financing tool
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Financing amount (Euro)
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33600000
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Financing details
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EUR 33.6m loan
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Customer
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VINCI Airports Serbia d.o.o
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Type of customer
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Company
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Country of headquarters
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Serbia
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Project number
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PRS1001
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Environmental and social ranking
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B+
The Belgrade Airport Expansion Project is the country’s first public-private partnership (PPP). It will increase the airport’s capacity and contribute to creating jobs and fiscal resources for the country.
Client presentation
Vinci Airports Serbia d.o.o is a subsidiary wholly owned by Vinci Airports SAS, one of the largest airport operators in the world.
In January 2018, Vinci Airports SAS won the bid invitation for this airport concession.
Project description
his project concerns the acquisition of the concession and the expansion of Belgrade Airport. This 25-year concession contract is the country’s first public-private partnership (PPP) and is eventually expected to triple the airport’s passenger capacity.
The total project cost stands at EUR 981m, EUR 420m of which will be financed by debt. PROPARCO has contributed EUR 33.6m to this financing and has mobilized a total amount of EUR 56m under a Friendship Facility with its German counterpart DEG (EUR 22.4m).
Project impact
The project will contribute to transporting 7.5 million passengers and 25,000 tons of cargo by 2022. It will also contribute to Serbia’s GDP and will be a significant source of fiscal revenues.
The project will also support job creation with over de 9,600 jobs in Serbia’s economy, including over 2,400 within the airport’s value chain.
Finally, the airport aims to obtain Airport Carbon Accreditation and energy efficiency measures will be implemented to reduce its carbon footprint.