|
Take-off for Tallinn Airport with EBRD loan
A EUR 7.6 million loan from the European Bank for Reconstruction and Development (EBRD) will help Tallinn Airport to modernise its passenger terminal building. The loan is for a 14-year term and will be guaranteed by the Republic of Estonia.
"This project is part of a comprehensive programme to provide Estonia with a modern, efficient and commercially oriented airport," said Charles Frank, First Vice-President of the EBRD as he signed the loan today at the Bank’s annual meeting. He continued: "The modernisation of the terminal building will considerably improve passenger comfort, provide up-to-date facilities required by the various airlines serving Tallinn, and increase capacity to handle growth in traffic. In addition, the financing will enable the airport to comply with various European Union and international regulations."
The Bank’s loan will complement funding for the modernisation of the airport passenger terminal provided by the European Investment Bank (EUR 10 million loan), Tallinn Airport (EUR 2.1 million of its own funds), the Estonian Government (a grant of EUR 2.5 million), EU-PHARE (EUR 2.5 million grant) for reconstruction of the apron, or aircraft parking area, and the Norwegian Government (EUR 1 million grant for consultants). This financing follows on from the EBRD’s EUR 10.4 million loan extended to Tallinn Airport for airfield upgrading in 1994.
In 1998, Tallinn Airport handled approximately 564,000 passengers, 6,000 tonnes of cargo and 25,000 aircraft movements. Between 1995 and 1998, passenger traffic increased by 54 per cent.
The EBRD has signed 14 loans for air transport projects in its countries of operations, committing approximately EUR 210 million to the sector. These include projects in Armenia, Azerbaijan, Bosnia and Herzegovina, Croatia, Czech Republic, Estonia, Georgia, Latvia, FYR Macedonia, Moldova, the Russian Federation and Ukraine.
|
