EIB investing EUR 40 mln in Bulgaria's Sofia Airport modernization

World

The European Investment Bank (EIB) said on Tuesday that it signed a EUR 40 million loan agreement for the modernization of Bulgaria's Sofia International Airport with airport concessionaire SOF Connect.

The financing is supported by the European Commission's Connecting Europe Facility (CEF), an EU funding instrument to promote growth, jobs and competitiveness through targeted infrastructure investment at European level, EIB said in a press release.

The EIB loan will be used to finance improvements to Sofia Airport's existing facilities and operations, rather than investment in airport capacity expansion, in line with the EIB Climate Bank Roadmap approved in November. The focus will be put on infrastructure modernization and the upgrade of regulatory, safety and security components, including decarbonization investments.

In July 2020, Bulgaria's government signed a contract for a 35-year concession for the development, upgrade, maintenance, management and operation of Sofia Airport with SOF Connect, a consortium led by French investment firm Meridiam.

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