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Venice airport receives EUR 150 million loan from EIB to finance development

Staff Writer |
With a EUR 150 million loan, the European Investment Bank (EIB) supports the development of the Venice Airport, the third busiest international gateway in Italy by number of passengers.

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EIB Vice-President, Dario Scannapieco and the President and CEO of Venice Airport’s operator SAVE, Enrico Marchi, signed the financing today in Venice. Alessio Quaranta, General Manager of ENAC, the Italian civil aviation authority that approved the airport masterplan, also attended the signing ceremony.

The EIB financing is backed by the European Fund for Strategic Investments (EFSI), the heart of the Investment Plan for Europe, or Juncker Plan.

Venice’s airport Marco Polo, which will reach 11 million passengers this year, has an increasing international footprint: 87% of passengers flew between Venice and European or intercontinental destinations (as opposed to the Italian airport system average of 64%).

Following the implementation of the investments included in the masterplan, Venice Airport will be able to sustain increased volumes of up to 16 million passengers by 2025.

It is estimated that the project financed by the EIB will generate approximately 2,700 jobs during the construction phase, while following completion approximately 500 additional new jobs connected with the airport’s operation will be created. The project will also contribute to the European Safety Initiative (ESI) complying with the new standards of the Commission Regulation on implementation of the common basic standards on aviation security.

The EIB financing will contribute to almost one third of the total investment cost relating to terminal upgrade and extension, runway's renewal and upgrade, construction of additional taxiway and aircraft parking facilities.

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