|
EBRD loan helps finance refurbishment of Kiev International Airport
Ukraine's largest international airport has signed a loan agreement of ECU 4.3 million (US$5.1 million) with the European Bank for Reconstruction and Development, to help finance renovation work on the airport, located 30km outside of Kiev.
EBRD Vice-President Mario Sarcinelli, said: "A newly refurbished airport will provide many benefits to the overall economy of the Kiev region, as it will be able to handle a growing flow of both business and tourist travel to the area."
The existing infrastructure of Kiev (Borispol) International Airport urgently needs to be renovated and improved in order to cope with the increasing demand for international travel. With the proceeds of the loan, the existing passenger terminal building will be refurbished and the passenger flow arrangements will be restructured, to help the airport accommodate the growing international traffic in the medium term and justify charging hard-currency fees.
The renovation work will ease congestion and improve passenger flow, and make more room for commercial activities such as duty-free shops and restaurants, which will generate direct income for the airport. In addition, conveyor belts and carousels for baggage will be installed, along with improved check-in computer terminals and flight display boards. Work is already underway and is programmed to be completed by 15 May 1994.
The total cost of the project is US$14.8 million, which includes a loan from the Ukraine Government and a further loan from The First Ukrainian International Bank.
|
