ECONOMY

Fraport close to securing necessary funds for airport deal

fraport-close-to-securing-necessary-funds-for-airport-deal

The privatization of 14 Greek regional airports – including that of Mytilene (pictured) – is picking up,

Sources say that the Fraport-Slentel consortium, the preferred bidder for the contract, is in the final stage of negotiations with banks for the financing of the project.

The consortium will seek the issue of a loan amounting to 800 million euros, and so far three institutional lenders have pledged to cover the amount. They are the European Bank for Reconstruction and Development (EBRD), the European Investment Bank (EIB) and the International Finance Corporation (IFC), which is a subsidiary of the World Bank.