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EBRD finances new airport terminal in Armenia
The EBRD is lending $20 million to Armenia International Airports C.J.S.C
(ArIA) to finance the completion of the new passenger terminal at Zvartnots
Airport in Yerevan, including the acquisition of modern equipment to further
upgrade the quality of service, as air traffic through the capital increases.
A sharp improvement in the Armenian economy and a positive outlook have
boosted the number of passengers passing through the airport, with tourism
also expanding. Passenger levels are likely to top the 1.15 million mark by
the end of this year.
“This project will play an important role in the development of external
transport links and an efficient transport system for Armenia, a land-locked
country heavily dependent on air-transport services”, said Michael Weinstein,
head of the EBRD office in Yerevan. “We are particularly happy to support a
private international operator in improving the airport’s operations”.
“The EBRD's loan will assist Zvartnots, the country’s principal international
airport, in meeting international airport facility standards, and will
contribute towards Armenia’s developing tourist industry.” said ArIA General
Director Juan-Pablo Gechidjian.
The deal is being undertaken jointly with DEG, Deutsche Investitions- und
Entwicklungsgesellschaft mbH, part of the German KfW group, which is
providing a further loan of $10 million.
The project is an example of the EBRD’s strategy of promoting improvements to
and the commercialisation of the public infrastructure in Early Transition
Countries (ETC) and of the EBRD’s cooperation with other IFIs active in the
region.
ArIA operates the Zvartnots Airport under a management contract signed in
2002. It is owned by a New York-based holding company.
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