OREANDA-NEWS. March 09, 2011. The prominent British magazine Project Finance has named the project of reconstruction of the Pulkovo Airport being financed by a pool of banks involving Eurasian Development Bank - the European Airport Deal of the Year. The investments total to as much as EUR1.24 bn, with funds coming from EDB equaling to USD90 m., reported the press-centre of KASE.

The magazine Project Finance awards prizes for innovative character of financial transactions, prompt implementation times, use of best practices, efficient handling of risks in financing infrastructural projects.

In April 2010, EDB as participant of a bank consortium signed a loan agreement intended for financing of Airport Pulkovo reconstruction. The project envisages creation, reconstruction and operation of the airport on the basis of partnership between the government and the private sector. This partnership is to last for 30 years. The pool of banks comprises apart from EDB also  Vneshekonombank, EBRD, IFC, Severny Investment Bank, Chernomorskiy Bank for Trade and Development as well as several commercial banks.

Reconstruction of Pulkovo is a priority for EDB focusing on financing of transportation infrastructure. This project is supposed to promote integration processes: the airport maintains regular flights connecting EDB - member countries. Increasing the airport's throughput capacity and transforming it into a powerful transportation and transit hub of not only regional but also international importance will create prerequisites for an increasing number of passengers commuting between EDB - member countries.

Information

The magazine Project Finance is part of the Euromoney publishing group. It focuses on publishing information relating to project finance, updates on the most recent achievements in infrastructural financing, provides a comprehensive analysis of relevant projects. The awarding ceremonies for the best deals have been held by the magazine annually for the past 12 years already.