VINCI Airports has finalised the financial arrangements for the acquisition of seven airports in Cabo Verde as the conditions precedent in the concession agreement signed in July 2022 with the government of the African country had been met.

In a statement, the French airport operator noted that it secured €60 million (US$66.5 million) in financing, maturing over 20 years, from three development banks: World Bank-IFC, Proparco (France) and DEG (Germany). This financing is certified under the Sustainability-Linked Financing (SLF) Framework.

 [Source: VINCI Airports]

VINCI noted that to secure certification, it set two sustainability targets: one involving a progressive reduction in CO2 emissions, the other involving the Airport Carbon Accreditation programme.

It added that this is one of VINCI Airports' very first financing arrangements of this kind and the first time IFC, Proparco and DEG have financed airports through an SLF.

"Securing the financing was a major milestone for the airports in Cabo Verde, and VINCI Airports is taking over their operation today," the airport said on July 24.

It added that it would fund, operate, maintain, extend and modernise these airports over the next 40 years alongside its Portuguese subsidiary (ANA-Aeroportos de Portugal), which will hold 30% of the concession company.

VINCI noted the airports' "solid potential", noting that Cabo Verde welcomed 2.2 million passengers in 2022, approximately 80% of the total in 2019.

The airport noted that it would open new routes and also roll out an environmental action plan, including the development of renewable energy production at airports.

"We are proud of the confidence placed in us by the Cape Verdean government, which has entrusted VINCI Airports with the responsibility of supporting the country's growth in tourism while ensuring the environmental transformation of airports," said Nicolas Notebaert, CEO of VINCI Concessions and President of VINCI Airports.

VINCI Airports said integrating the airports in Cabo Verde has solidified its position as the world's number-one private operator in its sector, with 72 airports in 13 countries.