Project Co-Financed by EDB Won Project Finance Award for 2010 Deal of the Year

Almaty, 2 March 2011. A reputed British magazine Project Finance named the project to reconstruct the Pulkovo Airport co-financed by the EDB a European Airport Deal of the Year. Investments in this project total €1.24 billion, including the EDB’s commitment of $90 million.

Project Finance awards are for innovation, speed of delivery, best practices, and risk mitigation in the financing of infrastructure projects.

In April 2010 the EDB as party to a consortium of banks signed a loan agreement for financing the Pulkovo Airport project to recreate, reconstruct and operate the airport based on a public-private partnership mechanism. The respective public-private partnership agreement was made for 30 years. Apart from the EDB, the bank pool comprises Vneshekonombank, the European Bank of Reconstruction and Development, the International Financial Corporation, the Nordic Investment Bank, the Black Sea Bank of Trade and Development, and a number of commercial banks.

The Pulkovo project belongs to the EDB’s priority area of financing, transport infrastructure. The Pulkovo project will also promote integration, as the airport serves regular flights connecting the capitals of the EDB’s member states. Increasing the throughput capacity of Pulkovo and making it a major regional and international transportation centre will in turn increase the flow of passengers between the member states.

Additional Information

Project Finance is Euromoney Publications' flagship international infrastructure finance title.. It published information on project financing and covers recent developments in infrastructure financing with a global project analysis. Project Finance Awards for Deals of the Year ceremonies have been held for 12 years.