The loan is AIIB's first non-sovereign-backed financing transaction in the aviation industry. AIIB (Asian Infrastructure Investment Bank) has acquired experience in the development of infrastructure that is sustainable and energy-efficient through initiatives in other areas of the transportation sector.
The financing package is being provided in partnership with the International Finance Corporation (IFC) and the European Bank for Reconstruction and Development (EBRD).
Antalya is a popular tourist destination due to being the gateway to the Turkish Riviera; an area that is known for its beaches and the blue waters of the Mediterranean Sea. The airport is the most common way for tourists to access Antalya since the city is far from other major Turkish cities such as Istanbul.
AIIB's Vice President for Investment Operations Konstantin Limitovskiy says:
"The Antalya Airport is a gateway to tourism in Türkiye. This project is aligned with AIIB's Transport Sector Strategy and thematic priorities of Green Infrastructure, Connectivity and Regional Cooperation and Private Capital Mobilization. This is AIIB's first solid entry into the sustainable aviation market and it will boost the tourism-dependent economic health of Antalya region locally. It will also contribute to Türkiye's economic recovery from recent financial shocks and local natural disasters while enhancing global cross-border connectivity."
FTA is a joint venture between airport operators Fraport AG Frankfurt Airport Services Worldwide and TAV Airports Holding. The project is expected to lower greenhouse gas emissions through LEED green building standards and low-carbon measures.
Furthermore, the improved airport will incorporate initiatives that aim to achieve energy efficiency, such as an on-site solar farm. The new infrastructure will help Antalya Airport become carbon neutral by 2050 and rank it as one of the top airports worldwide for carbon management.
Since 2018, AIIB has invested more than $3.9 billion into Turkey through 19 projects across a variety of industries. Projects have been completed in the water, energy, urban, transportation, and healthcare sectors.
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