OREANDA-NEWS. In the framework of the St. Petersburg International Economic Forum Sberbank of Russia signed a memorandum of understanding on the fundraising for IGA Havalimani Isletmesi A.S. via the Turkish subsidiary of Sberbank Group, DenizBank.

DenizBank is the winning bidder for the construction and operation of Turkey's largest airport, Istanbul Grand Airport (IGA), to the amount of EUR 500 million with a 16 year maturity and EUR 30 million working capital loan for the operation period. The term loan and working capital facilities allocated by DenizBank will be utilized for the purpose of financing the concession for the operation and maintenance of Istanbul Grand Airport (IGA).

The related agreements were signed by the Deputy Chairman of the Executive Board of Sberbank of Russia, Sergey Gorkov, and Sponsors of IGA Havaliman? Isletmesi A.S. Mehmet Cengiz, Nihat Ozdemir, Cemal Kalyoncu.

"We are pleased to finance the construction and operation of the largest airport in the world and a hub airport for the region, with 150 million annual passengers expected capacity after completion. We aim to further develop our cooperation with leading Turkish companies", said the Deputy Chairman of the Board of Sberbank of Russia, Sergey Gorkov.