EDB transfers another tranche of the loan to reconstruct Pulkovo Airport

Almaty, 14 December 2012. Today a consortium of banks, which includes Eurasian Development Bank (EDB), provided another tranche of the loan for the project to reconstruct, develop and operate Pulkovo Airport in St. Petersburg. The size of this tranche to Northern Capital Gateway, project operator, approximates €205 million and EDB’s share is equivalent to almost US $26 million.

This public-private partnership project is financed, in addition to EDB, by the European Bank for Reconstruction and Development, the International Finance Corporation, the Nordic Investment Bank, the Black Sea Trade and Development Bank, Vnesheconombank and commercial banks. The funds they provide total about €692 million, including EDB’s portion of US $90 million.

The project envisions a large-scale comprehensive development of the airport to increase its capacity and make it an important regional and international hub. The new 176,000 sq m terminal will service up to 25 million passengers a year by 2025. In addition, Pulkovo’s domestic terminal (Terminal 1) will be renovated.

In 2011 Pulkovo was Russia’s third busiest airport by passenger traffic, which reached 9.6 million people.

Additional Information

Eurasian Development Bank is an international financial institution founded by Russia and Kazakhstan in January 2006 with the mission to facilitate the development of market economies, sustainable economic growth and the expansion of mutual trade and other economic ties in its member states. EDB’s charter capital exceeds US $1.5 billion. The member states of the Bank are the Republic of Armenia, the Republic of Belarus, the Republic of Kazakhstan, the Kyrgyz Republic, the Russian Federation, and the Republic of Tajikistan. Read more at https://www.eabr.org.