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Zagreb, Croatia, December 6, 3013
- IFC, a member of the World Bank Group, is supporting the development of a state of the art terminal at Zagreb International Airport that will boost the vital tourism industry and encourage economic growth, as part of a landmark public-private partnership (PPP).
IFC will invest up to €19 million for an 18 percent share in the holding company Zagreb International Airport—as part of the ZAIC-A Ltd. consortium—and provide a loan of up to €35 million. Tourism is a major driver of employment in Croatia, and improved infrastructure will develop the sector and boost GDP. The new terminal expects to welcome 5 million travelers per year when it opens in 2017, compared to the current capacity of 2 million.
The deal marks the financial closing of this PPP project, the transfer of ownership of the current airport to Zagreb International Airport, and the beginning of construction work on the new terminal. The concession contract includes the financing, design and construction of a 65,000 square meter airport terminal, as well as the operation of the entire airport until 2042. The project comprises a total investment of €331 million, €243 million for the design and construction of the new terminal and €88 million for the maintenance of the airport infrastructure.
“IFC, with its focus on private sector development, has an important role to play in supporting the greater participation of the private sector in the development of Croatia’s infrastructure,” said Tomasz Telma, IFC Director for Europe and Central Asia. “This is the first airport concession in the country and we hope it will serve as a model for similar transactions in the future.”
ZAIC-A Ltd. consortium consists of IFC, Aéroports de Paris Management (a wholly-owned subsidiary of Aéroports de Paris), Bouygues Bâtiment International (a subsidiary of Bouygues Construction), TAV Airports, Viadukt, and Marguerite Fund.
Apart from IFC, the lenders for this project include the European Investment Bank, Unicredit Bank Austria, and Deutsche Bank. The consortium signed the financing agreements with the lenders and the Croatian Ministry of the Sea, Transport and Infrastructure.
IFC, a member of the World Bank Group, is the largest global development institution focused exclusively on the private sector. Working with private enterprises in more than 100 countries, we use our capital, expertise, and influence to help eliminate extreme poverty and promote shared prosperity. In FY13, our investments climbed to an all-time high of nearly $25 billion, leveraging the power of the private sector to create jobs and tackle the world’s most pressing development challenges. For more information, visit
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