IFC 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). The new $450 million terminal, built by a consortium supported by IFC, has already won a slew of awards, and once completed is expected to spark meaningful economic growth. Tourism is a major driver of employment in Croatia, and improved infrastructure will develop the sector and boost GDP. The new terminal will be 65,000 square meters and expects to welcome 5 million travelers per year when it opens in 2017, compared to the current capacity of 2 million.
IFC & Zagreb International Airport
IFC is committing as much as $73 million to the project, including a loan of up to $47 million and an equity investment of nearly $26 million. The concession includes financing, design, and construction of the terminal, along with airport operation until 2042.
Economic For the first time in Croatia, private firms involved in a transport concession project have assumed passenger volume risks, enabling the country to upgrade essential infrastructure without adding a burden to state finances.It will also improve the country's infrastructure, boost tourism, a major driver of employment in Croatia, and bring in more businesspeople and potential investors from the region and beyond. The project is also estimated to generate over 700 jobs at its peak, with an average of 400 jobs over the duration of construction.
Environment The airport concession is reviewing the feasibility of having the project use a cogeneration energy source and the feasibility of having the project registered under ACI Airport Carbon Accreditation aiming to achieve carbon neutrality under such a program by 2016.
$73 million: $47 million loan and nearly $26 million equity investment
65,000-square-meters of space added
150% capacity increase; 2 million to 5 million people
Average of 400 new jobs during construction, and up to 700 at peak