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

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 a number of passengers.

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.

Following the implementation of the investments, 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.

Dario Scannapieco, EIB Vice-President, said. “Veneto is an outward-looking region characterized by a strong tourist vocation and a dynamic entrepreneurial population. Investing in its main airport infrastructure means that we invest in the region’s future: people’s mobility and smooth circulation of goods are a precondition for further economic and social development”.

Original source: EIB
Published on 17 December 2018