Germany: EU bank lends EUR 400m to Fraport
- Funds provided for the expansion of the new Terminal 3 at Frankfurt Airport
- The EIB and Fraport continue their long-standing working relationship with this new loan
The overall investment cost of the new terminal, which is expected to be opened in 2023, is estimated at around EUR 3bn. It will enable Frankfurt Airport to handle up to 14 million additional passengers a year. The current loan represents the continuation of the EIB’s long-standing cooperation with Fraport. The EIB has been supporting the expansion of the airport since the 1990s with loans totalling over EUR 900m.
The European Investment Bank (EIB) is providing Fraport AG a loan for EUR 400m. The funds will be used for the first construction phase of the new Terminal 3, forming part of the expansion of Frankfurt Airport. Frankfurt Airport is Germany’s largest air transport hub and its expansion is a key project in the development of trans-European transport networks.
The EIB Vice-President responsible for operations in Germany, Ambroise Fayolle, stated, “Air transport is an international business. Good flight connections are an important location factor, especially in an economy like Germany’s which is strongly geared towards exports. I therefore particularly welcome the continuation of our successful cooperation with Fraport and the conclusion of this finance contract. As the EU bank, we see a high-performance European air transport network as a guarantee for the mobility of people and access to markets in an increasingly interconnected global economy.”
“We are pleased to be able to extend our long-standing and fruitful working relationship with the European Investment Bank. With Terminal 3, we will set new standards at Frankfurt airport in terms of quality of stay, customer-oriented services and handling excellence. As a result, we will be able to offer our passengers and the export-focused German economy first-class services and state-of-the-art infrastructure, so that Frankfurt will remain the door to the world in the future.” said Fraport AG’s CFO Dr Matthias Zieschang.