Showing posts with label VINCI Airports. Show all posts
Showing posts with label VINCI Airports. Show all posts

Friday 28 July 2023

VINCI Airports finalises closing for Cabo Verde airport concession

Financing arrangements completed for a concession covering seven airports in the archipelago
40 years concession in a country with a growing tourism sector
VINCI Airports solidifies its international network, which now spans 72 airports in 13 countries


As the conditions precedent in the concession agreement signed in July 2022 with the government of Cabo Verde had been met, VINCI Airports finalised the financial arrangements for the acquisition of seven airports in the country. VINCI Airports secured €60 million in financing, maturing over 20 years, from three development banks: World Bank-IFC, Proparco (France) and DEG (Germany). This financing is certified under the Sustainability-Linked Financing (SLF) Framework.

To secure certification, it set two sustainability targets: one involving a progressive reduction in CO2 emissions, the other involving the Airport Carbon Accreditation programme. This is one of VINCI Airports' very first financing arrangements of this kind, and the first time IFC, Proparco and DEG have financed airports through a SLF.

Securing the financing was a major milestone for the airports in Cabo Verde, and VINCI Airports is taking over their operation today. It will fund, operate, maintain, extend and modernise these airports over the next 40 years, alongside its Portuguese subsidiary (ANA-Aeroportos de Portugal), which will hold 30% of the concession company.