IFC has announced a sustainability-linked €20 million ($22 million) financing package for Cabo Verde Airports, a subsidiary of VINCI Airports, to improve the infrastructure at Cabo Verde’s seven airports in Africa and help them to reduce greenhouse gas emissions.
Cabo Verde Airports is a special-purpose vehicle in charge of financing, operating, maintaining, expanding and modernizing Cabo Verde’s seven airports for the next 40 years. The financing will help fund the refurbishment and greening of Cabo Verde’s entire network of four international and three domestic airports, which are spread across seven islands in the central Atlantic Ocean.
In addition to the airport revamp, Cabo Verde Airports plans to implement a decarbonization strategy through various renewable-energy projects. The loan’s financial performance will be linked to two key indicators, which include the reduction of greenhouse gas emissions and certification with Airport Carbon Accreditation,