EBRD acquires indirect stake in Queen Alia International Airport

AMMAN — The European Bank for Reconstruction and Development (EBRD) on Monday announced the purchase of an indirect stake in Airport International Group (AIG), the concessionaire operating Queen Alia International Airport (QAIA).

According to a joint statement sent to The Jordan Times, the EBRD is committing up to 30.5 million euros to AIG through an indirect stake in Meridiam Eastern Europe Investments, which acquired 32 per cent of AIG last year.

The EBRD is supporting important infrastructure private-public partnerships (PPP) projects in Jordan, with the purchase of an indirect equity stake in AIG.

The EBRD’s purchase aims to support the development of the Jordanian economy and support more investments in PPPs, as well as contribute to more engagement in environmental and social issues by AIG, according to the statement.

AIG is a private shareholding company incorporated in Jordan in 2007, and holds a 25-year agreement with the government for the expansion and operation of QAIA, the statement added.

Jordan became an EBRD shareholder in 2012 and the bank has contributed more than 1.3 billion euros for 43 projects to date, in addition to $120 million in trade facilitation lines to local banks.