Beijing, April 17, 2023
AIIB Extends EUR140 Million to Enhance Türkiye’s Antalya Airport Expansion
The Asian Infrastructure Investment Bank (AIIB) has signed a EUR140-million loan with Fraport TAV Antalya Yatirim, Yapim ve Isletme (FTA) for the expansion and modernization of Antalya’s Airport in Türkiye to improve airport service and the availability of travel options.
This capex bridge loan will facilitate greater cross-border connectivity between Europe, Asia and other destinations. It also marks AIIB’s inaugural non-sovereign backed financing transaction in the airport industry, bringing its global leadership in developing sustainable and energy efficient transport infrastructure to the aviation industry. Once completed, the extension of the Antalya Airport will improve utilization of existing runway capacity and higher-quality terminal infrastructure while easing transportation constraints.
“The Antalya Airport is a gateway to tourism in Türkiye,” said Konstantin Limitovskiy, AIIB’s Vice President for Investment Operations (Region 2: Pakistan, Afghanistan, Central Asia, East Asia, West Asia, Europe, Africa and Latin America). “This project is aligned with AIIB’s Transport Sector Strategy and thematic priorities of Green Infrastructure, Connectivity and Regional Cooperation and Private Capital Mobilization. This is AIIB’s first solid entry into the sustainable aviation market and it will boost the tourism-dependent economic health of Antalya region locally. It will also contribute to Türkiye’s economic recovery from recent financial shocks and local natural disasters while enhancing global cross-border connectivity.”
AIIB’s financing package is provided in partnership with the International Finance Corporation (IFC) and the European Bank for Reconstruction and Development (EBRD) (collectively the multilateral development banks (MDBs)). In addition to the improvement of Antalya Airport’s operational efficiencies, this collaboration will support the adoption of international environmental, social and governance (ESG) standards and climate change mitigation and adaptation efforts.
FTA, a joint venture between global airport operators Fraport AG Frankfurt Airport Services Worldwide and TAV Airports Holding, will meet the MDBs’ ESG standards by committing to develop capacity for inclusive and gender-responsive procurement with the goal of increasing women’s participation at the contractor level. The project will reduce greenhouse gas emissions by introducing low-carbon measures in compliance with LEED green building standards, which AIIB will also monitor as part of the project’s intermediate indicators. These measures will also include the construction of an on-site solar farm and other various energy efficiency initiatives, which will rank the Antalya Airport among the top best carbon management airports in the world, as it aims to achieve carbon neutrality by 2050.
AIIB has been active in Türkiye since 2018 and has committed over USD3.9 billion through 19 projects covering the water, energy, urban, transport and healthcare sectors across the Turkish market.
More information about the project can be found here.
About AIIB
The Asian Infrastructure Investment Bank (AIIB) is a multilateral development bank whose mission is financing the Infrastructure for Tomorrow—infrastructure with sustainability at its core. We began operations in Beijing in January 2016 and have since grown to 106 approved members worldwide. We are capitalized at USD100 billion and Triple-A-rated by the major international credit rating agencies. Working with partners, AIIB meets clients’ needs by unlocking new capital and investing in infrastructure that is green, technology-enabled and promotes regional connectivity.
More News Articles
Beijing, May 19, 2023
AIIB Appoints a New External Member of its Audit and Risk Committee
The Asian Infrastructure Investment Bank (AIIB) has appointed Teresa Lin as external member of the Audit and Risk Committee (ARC) of the Board of Directors. Lin’s term follows the end of the three-year term of Ai Phing Cheng in April 2023. Elisabeth Stheeman continues to serve as external member to the ARC.
READ MOREBeijing, May 11, 2023
AIIB Issues First Climate Adaptation Bond Targeting Resilient Infrastructure
The Asian Infrastructure Investment Bank (AIIB) has successfully priced its first Climate Adaptation Bond, a thematic bond issued under the AIIB Sustainable Development Bond Framework. The 5-year bond raised AUD500 million, and the proceeds will be allocated to projects that have an estimated climate adaptation finance portion of 20 percent or greater of the total project financing.
READ MOREBeijing/London, April 27, 2023
Research Shows How AIIB-Amundi Climate Change Investment Framework Can Guide Investors
The Asian Infrastructure Investment Bank (AIIB), Amundi and Climate Bonds Initiative (CBI) announce the publication of the Companies and Climate Change report, developed by Fitch Solutions, the Carbon Trust, and CBI. This report presents the first research application of the AIIB-Amundi Climate Change Investment Framework (CCIF).
READ MOREAbu Dhabi, April 19, 2023
AIIB to Open First Overseas Office in Abu Dhabi, UAE
The Asian Infrastructure Investment Bank (AIIB) and the United Arab Emirates (UAE) signed a host member agreement to officially open in Abu Dhabi the Bank’s first overseas office, an Interim Operational Hub (the Hub). Jin Liqun, President and Chair of the Board of Directors of AIIB, joined His Excellency Dr. Sultan Al Jaber, Minister of Industry and Advanced Technology and UAE Governor of AIIB, during the signing ceremony in Abu Dhabi.
READ MORE