Financing efficient and sustainable transport networks EBRD experience in promoting transport solutions

February 2016

OFFICIAL USE

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OFFICIAL USE

What is the EBRD?

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• An international financial institution,

promotes transition to market

economies 36 countries from central

Europe to central Asia and the Southern

and Eastern Mediterranean – SEMED

region.

• Owned by 64 countries and 2

inter-governmental institutions (EU, EIB).

• Capital base of €30 billion.

• Cyprus and Greece became recipient

countries on a temporary basis in May

2014 and 2015, respectively.

• EUR 107 billion invested since 1991, in

4,400+ operations.

EU 27 Countries (1)

58.7%

EBRD region excluding EU

13.8%

Others 8,7%

USA 10,1%

Japan 8,6%

Shareholding structure - EBRD has a AAA rating from all

three main rating agencies (S&P, Moody’s and Fitch)

(1) Includes European Community and European Investment Bank (EIB)

each at 3%. Among other EU countries: France, Germany, Italy, and the

UK each holds 8.6%

Mission and Vision Three Key Principles

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Transition Impact

Sound Banking

EBRD

Additionality

Promotes transition to market

economies, private ownership and good

governance with respect for people and

environment

Supports, but does not replace,

private investment. Provides

financing otherwise not available,

at reasonable terms Invests in financially viable

projects, together with the

private sector

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EBRD’s objectives achieved through

financing the private sector

AAA/Aaa rated multilateral

development bank

Invested over EUR 107 billion in more than

4,400 projects since 1991

In 2015:

• EUR 9.3 billion invested in 381 projects

• Private sector accounted for 70% share

• Debt 82%, Equity 14% & Guarantee 4%

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Net c

um

ula

tive b

usin

ess in

vestm

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Annual busin

ess investm

ent

(AB

I)

Debt ABI

Equity ABI

Net Cumulative Business Investment

Net cumulative business investment EUR107bn

E EUR billion

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Geographic Coverage

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Country Group Portfolio Distribution

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18%

15%

17%

14%

20%

4%

1%

14%

15% South-eastern Europe - 15%

Eastern Europe & Caucasus -17%

Central Asia - 14%

Turkey - 20%

Russia - 1%

Greece & Cyprus - 4%

Central Europe & Baltics - 14%

Southern & Eastern Mediterranean - 15%

Net cumulative business investment €107bn

Note: as at end December 2015

Projects in all key business sectors

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Transport

Agribusiness

Financial Institutions

Manufacturing &

Services

Municipal & Environmental

Infrastructure

Power & Energy

Natural Resources

Property & Tourism

Telecommunications,

Informatics & Media

Equity Funds

Nuclear Safety

Climate Finance

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Extensive offer of tailored financial products

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Debt Equity

• Senior, subordinated, convertible

• Loans to the private sector (up to 35%, syndicating the rest), including SME

• Sovereign, sovereign guaranteed and loans to state owned companies

• Debt co-financing, with commercial banks and IFIs

• Project finance loans (incl. PPP)

• Hard/local currency. Fixed/floating rates

• Syndication under preferred creditor status

• Access to capital markets

• Common or preferred stock

• Minority position only (up to 25%), investing with majority sponsor to reduce equity burden and add partnership value.

• Privatisation and initial public offering (IPO)

• Mezzanine equity and subordinated debt

• Infrastructure funds

• PPP

Technical Cooperation

EBRD brings in additional financial capital and technical assistance (TC) to

economically viable projects

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Benefits of working with us EBRD’s Value-Added: a unique offering

• Strong, internationally recognised partner with long term

perspective

• Higher risk appetite than other lenders, including political risk

• Long established policy dialogue with Government and

Regulators

• Unparalleled presence in the region, unique mandate and

shareholder structure provides mitigation of political and

regulatory risks

• Preferred creditor status in all countries of operation

• Catalyst to access additional (long term) finance

• Flexible deal structure and product matching services, including

financing in local currency

• Dedicated team with expertise in a variety of sectors and

countries

• Donor-funded technical assistance available for economically

viable sustainable development projects

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EBRD in the Transport Sector

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Transport within Infrastructure Business Group

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INFRASTRUCTURE Business Group

TRANSPORT

South & Central Europe, SEMED

Albania, Armenia, Azerbaijan,

Belarus, Bosnia and

Herzegovina, Bulgaria, Croatia,

Cyprus, Egypt, Estonia, FYR

Macedonia, Georgia, Greece,

Hungary, Jordan, Kosovo,

Latvia, Lithuania, Moldova,

Montenegro, Morocco, Poland,

Romania, Serbia, Slovak

Republic, Slovenia, Turkey,

Tunisia, Ukraine

MEI

South & Central Europe, SEMED

Albania, Armenia, Azerbaijan,

Belarus, Bosnia and

Herzegovina, Bulgaria, Croatia,

Cyprus, Egypt, Estonia, FYR

Macedonia, Georgia, Greece,

Hungary, Jordan, Kosovo,

Latvia, Lithuania, Moldova,

Montenegro, Morocco, Poland,

Romania, Serbia, Slovak

Republic, Slovenia, Turkey,

Tunisia, Ukraine

INFRASTRUCTURE

Russia & Central Asia

Kazakhstan,

Kyrgyz Republic,

Mongolia,

Russian Federation,

Tajikistan,

Turkmenistan,

Uzbekistan

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The Transport Team at EBRD

• Transport Team is part of EBRD Infrastructure Business Group with

over 30 banking and sector professionals

• Headquartered in London, with dedicated sector bankers in local

EBRD resident offices

• Dedicated in-team specialists to support project needs including

procurement, sustainable strategies and monitoring

• EBRD offers banking services (debt and equity) to clients across

every transport mode: railways, maritime, aviation and roads1

• More info at www.ebrd.com/transport

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Transport at a glance2

• EUR 14.0 billion invested

• Total project value: EUR 52.3 billion

• 277 projects

• 33 of the EBRD’s countries of operation

1. Urban Transport is competence of the Municipal & Environmental Infrastructure Team

2. Data at end December 2015

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EBRD’s presence in Transport Sector

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Portfolio by Region Portfolio by Sector

The Bank supports the development of efficient multimodal networks,

investing a total of EUR 14 billion as of end December 2015

across all sectors and regions to support 277 projects

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Aviation 6% 41 projects/ €0.9 bn

Intermodal 5% 17 projects/ €0.7 bn

Ports and Shipping 9%

54 projects/ €1.2 bn

Rail 34% 80 projects/ €4.7 bn

Road 46% 85 projects/ €6.5 bn

Central Asia 12% 34 projects/ € 1.7 bn

Central Europe and Baltics 17% 62 projects/ €2.4 bn

Eastern Europe and Caucasus 17%

54 projects/ €2.4 bn

Regional 2% 4 projects/ €0.2 bn

Russia 20% 41 projects/ €2.8 bn

SEMED 2% 2 project/ €0.3 bn

South-Eastern Europe 25% 68 projects/ €3.5 bn

Turkey, 5% 12 projects/ €0.6 bn

The Bank invests in a broad range of Transport

projects including, but not limited to…

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Road

Road rehabilitation and construction of new highways,

secondary and rural roads, by-passes, maintenance equipment

and contracting, toll-motorway construction and operation

Rail

Aviation

Ports &

Shipping

Rehabilitation, maintenance and construction of rail

infrastructure (track, signaling, power supply, civil structures),

rolling stock, maintenance and ancillary facilities

Rehabilitation and construction of port infrastructure (berths,

quays, land access), superstructure (warehouses, gantries),

inland waterways, and vessels (acquisition and retrofitting)

Rehabilitation and construction of airport infrastructure and

terminals for passenger & cargo, airline finance, air navigation

services (ANS)

Logistics &

Intermodal

Construction of intermodal terminals & logistic centres, fleet

and equipment, support to intermodal operators

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EBRD in the Road Sector

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• Investing in key road projects with a positive balance of social, environmental and economic impact in the region

• EBRD targets investments to:

− Address bottlenecks

− Reduce transport costs and emissions

− Integrate rural regions and facilitate trade

− Upgrade road safety standards

− Support regional integration and key corridors (TEN, CAREC, etc.)

• Promotion of the introduction of commercial principles and PPP in the management of road infrastructure

• Capacity building on road safety and outreach activities in the context of the Decade of Action for Road Safety

• Implementation of ITS technologies to improve traffic management

At a Glance

• No. projects: 85 (31% of portfolio)

• No. Countries: 25

• EBRD Finance/Project Value: EUR

6.5 billion / EUR 27.2 billion

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Some references in the Road Sector

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• Removal of bottlenecks and reduction of traffic congestion through financing key road infrastructure (WHSD, St Petersburg/Eurasia Tunnel, Istanbul, etc.)

• Involvement of private sector in PPP revenue generating projects that meet economic and financial criteria (R1, Slovakia/M6, Hungary, etc.)

• Introduction of commercial criteria in the management of road infrastructure (Albania, Bosnia & Herzegovina, FYR Macedonia, etc.)

• Road Construction and rehabilitation to ensure an efficient network and road safety (Kyrgyz Republic, Kazakhstan, Azerbaijan, Ukraine, etc.)

• Construction of rural roads to improve accessibility in rural areas (Albania, Tajikistan, etc.)

• Provision of donor funding to support corporate reform, road safety and the introduction of new technologies

Some clients in the road sector

Private companies

State-owned companies

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EBRD in the Rail Sector

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• EBRD supports rail development in the region:

− Rehabilitation or construction of new track, signalling, power supply and maintenance to develop a more competitive system

− Rolling stock and maintenance facilities

− Station rehabilitation and management, traction energy and telecommunications

− Balance Sheet restructuring and corporate finance

• Financing rail reform through different players:

Long term sovereign and non-sovereign debt to

state-owned companies, in addition to debt to

private operators

• Focussed on bringing infrastructure to

international standards of safety, security and

environmental compliance

• Promoting the rail system as an environmentally

sustainable transport mode, whilst encouraging

energy efficiency technologies to keep its

competitive advantage

At a Glance

• No. projects: 80 (29% of portfolio)

• No. Countries: 24

• EBRD Finance/Project Value: EUR 4.7

billion / EUR 15.5 billion

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Some references in the Rail Sector

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• Renewal of the rolling stock: acquisition of

wagons by private operators (Russia, Ukraine,

Kazakhstan, etc.), EMUs and modern

locomotives (Croatia, Serbia, FYR Macedonia,

Montenegro, Egypt, etc.)

• Investments in energy efficient technologies in

ancillary infrastructure (Russia, Serbia, FYR

Macedonia, etc.). Capacity building support

with regards energy efficiency

• Expanding capacity through new rail

infrastructure and major rehabilitation works

(Serbia, FYR Macedonia, Montenegro, Kosovo)

• Promotion of rail competitiveness along the

Trans-European Strategic Corridors (Corridor X,

Corridor VIII, etc.)

• Innovative PPP schemes including the

refurbishment and commercial operations of

rail stations in the Czech Republic

Some clients in the rail sector

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EBRD in the Maritime Sector

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At a Glance

• No. projects: 54 (20% of portfolio)

• No. Countries: 18

• EBRD Finance/Project Value: EUR

1.2 billion / EUR 4.2 billion

• As the most energy efficient mode of mass

transport, carrying 90% of world trade, the Bank

supports capacity development to meet growing

demand efficiently:

− Active support of private sector involvement in greenfield projects

− Terminal and port structures and development of state-owned infrastructure

− Finance of fleet modernisation and retrofitting in a market dominated by over-aged vessels

− Introduction of Energy Efficiency best practices (port environment and vessel operators) and compliance with IMO regulations

− Promotion of short sea shipping

• Long established policy dialogue with regional

governments on the commercialisation of port

infrastructure and the separation of port

infrastructure management from the state

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Some references in the Maritime Sector

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• Pre and post delivery financing of Fleet

modernisation and capacity development

(Fesco, VBTH, BSSM, Circle Maritime Invest,

ER Deniz etc.)

• Partnering with IMO to build capacity about

environmental protection in the shipping

industry (ballast water management)

• Expanding port infrastructure (Albania,

Romania, Lithuania, Turkey etc.) contributing

to more efficient and sustainable transport

routes

• Support to greenfield projects under

concession terminal and port structures

• Contributing to greening port activity through

capacity building in equity participation

(Globalports) or the introduction of innovative

technologies (Klaipeda)

• Supporting a more efficient maritime

navigation system in the Gulf of Finland

Some clients in the maritime sector

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EBRD in the Logistics & Intermodal Sector

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1. Excludes those projects already accounted for under other subsectors

At a Glance1

• No. projects: 17 (6% of portfolio)

• No. Countries: 7

• EBRD Finance/Project Value: EUR 0.7

billion / EUR 1.9 billion

• A Sustainable transport system requires the

development of a multimodal network to

facilitate intermodal services

• The Bank assists private operators to structure

their investments efficiently to take advantage

of new opportunities

• Fleet renewal of private and state-owned

companies on a commercial basis

• Freight infrastructure, logistic centres, etc.

• IPO participation and in the private placement

of logistic operators

• Development of intermodal services and green

logistics

• The Bank is able to support privatisation

alongside a strategic investor as a debt or

equity partner

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Some references in Logistics & Intermodal Sector

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• Intermodal operations – multipurpose

logistics hubs, marshalling yards, diversified

transportation network connections (Arkas,

Danube Logistics, Fesco, PIMK etc.)

• Fleet acquisition (Globaltrans,

Transcontainer, JN Nurinem, etc.)

• Freight infrastructure – cargo warehousing,

cold warehousing, machinery

• Port infrastructure – Container handling

operations, inland infrastructure

(Euroterminal Odessa, Poti Port, etc.)

• Capital markets – Eurobonds, Initial Public

Offerings, Secondary Share Offering, Private

Placement (Global Ports Investments, Fesco,

Brunswick Rail, Globaltrans, etc.)

• Provision of donor funding to enhance

corporate governance and environmental

standards

Some clients in the logistics sector

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EBRD in the Aviation Sector

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At a Glance

• No. projects: 41 (15% of portfolio)

• No. Countries: 18

• EBRD Finance/Project Value: EUR

0.9 billion / EUR 3.5 billion

• Regional specialist, increasing private sector

engagement through PPPs and the provision

of outsourced services

• Financing to airports, air navigation

providers and airlines to improve passenger

comfort and safety

• Promotion of modern air navigation systems

facilitating efficient route management and

landing operations. Actively supports

affiliation with international organisations

such as Eurocontrol

• Enhancing aviation safety and

environmental standards by promoting

international best practice

• Promoters of energy efficiency in the sector,

including governance standards, emission

reduction and improvements to the built

environment

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Some references in the Aviation Sector

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• Regional Specialist delivering PPP

schemes at key international airports in

the region (Tirana, Tbilisi, St Petersburg ,

Yerevan, Izmir, Dalaman etc.)

• Modernisation of air navigation systems,

allowing shorter routes and significant fuel

savings (Serbia, Croatia, Ukraine, etc.)

• Enhancement of the safety of commercial

aviation and development of civil aviation

in general

• Replacement of the oldest aircraft in

Ukraine or Tajikistan, contributing to the

development of a safer and more energy

efficient sector

• Introduction of the highest energy

efficiency standards in the design of

airport terminals in St. Petersburg and

Izmir

Some clients in the aviation sector

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Case Studies

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Case Study Global Ports Holding , Turkey

Client: Global Ports Holding (GPH), the world’s largest operator of cruise

port/terminals based in Turkey

EBRD finance: EUR 53.4 million

Type of finance: Equity investment

Total Project cost: EUR 281 million

Year: 2015

Project description: A pre-IPO equity investment to support GPH expansion strategy

including port acquisitions in the EBRD Countries of Operations

Impact: Support to the company’s expansion plans

Improvement of corporate governance standards through adoption

of corporate governance action plan and enhanced disclosure

Enhancement of environmental standards and implementation of

environmental and social action plan

The Project supports a quality private operator in their international expansion

strategy to other port/terminal facilities in the Mediterranean Sea and beyond to

enhance port interconnectivity and passenger flow.

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Case Study M6 Motorway, Hungary

Client: M6 Duna and M6 Tolna, two Concession Companies incorporated in

Hungary, awarded in 2004 and 2008 respectively, concession

contracts to design–build–finance–operate Phases I and II of the

M6 Motorway.

EBRD finance: EUR 30 million

Type of finance: Equity investment

Total Project cost: EUR 65 million

Year: 2015

Project description: Acquisition of minority equity stakes in M6 Duna and M6 Tolna, the

concessionaires of the M6 Motorway Phases I and II in Hungary.

Impact: Development of a Secondary Market for PPPs in Hungary through

an equity investment alongside renowned private institutional

sponsors in the infrastructure sector, allowing new sources of

capital and new types of more sophisticated financiers (e.g. equity

funds) to enter the market.

Improvement of standards of corporate governance through

adoption of best market practices

The Project promotes the Bank’s vision of market-based transport networks by supporting a

secondary market transaction together with other financial and institutional investors.

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Case Study Regional Roads Project, Kosovo

Client: Ministry of Infrastructure of Kosovo (MI)

EBRD finance: EUR 29 million

Type of finance: Senior Loan

Total Project cost: EUR 38.45 million

Year: 2015

Project description: Rehabilitation of a 15km road section from Kllokot to Gjilan and the

upgrade of 11.2 km of access roads in the cities of Ferizaj, Gjilan

and Prizren in Kosovo.

Impact: Strengthening of implementation capacities and development of

internal approval procedures to increase the efficiency of project

preparation and implementation as well as to facilitate the provision

of financing.

Enhancement of Kosovo’s procurement and Environmental and

Health & Safety capacities through preparation of procurement

manuals and development of procurement procedures including on-

the-job training for the project implementation unit staff.

The project contributes towards the transformation of a sovereign client into a commercially-

oriented entity through sector reform. It also contributes towards national integration and

regional development.

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Case Study Olimpex Dry Port, Ukraine

Client: GNT Olimpex Holding Ltd., a holding company of a group of leading

private port operators in Ukraine

EBRD finance: USD 18.7 million

Type of finance: Senior Loan

Total Project cost: USD 18.7 million

Year: 2015

Project description: Development of a grain cleaning and drying facility located on the

territory of a "dry port" in the neighbourhood of the Port of Odessa

Impact: Adoption of best practice business standards by the Sponsor,

including the introduction of efficient energy management systems,

setting standards for other industry players

Improvement of the efficiency of grain supply chain and

enhancement of competition in the grain export sector via

enablement of a wider access to global soft commodities markets

by the local producers

Engagement of the company in EBRD’s policy dialogue aimed at

bringing together the private and public sectors with the aim of

intensifying dialogue over key issues affecting barriers to private

sector investment.

The project contributes towards achieving a more market-based approach to providing

transport infrastructure and services to the wider economy.

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GNT Olimpex

Holding Ltd.

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Case Study R1 Motorway Refinancing, Slovakia

Client: Granvia, a special purpose vehicle owned by VINCI Concessions SA

and Meridiam Infrastructure Fund

EBRD finance: EUR 200 million

Type of finance: Project Bond

Total Project cost: EUR 1,243 million

Year: 2013

Project description: Refinancing of the R1 Motorway PPP project

Impact: Optimising the long-term financing of newly constructed sections on

the R1 Motorway PPP between Nitra and Tekovske Nemce and the

Banska Bystrica Northern Bypass, totalling 51.6 km

Fostering economic development in central Slovakia through

provision of private sector engagement in road sector financing

The project demonstrates EBRD engagement as a long term partner in support of the

Slovakian Government’s PPP programme, following on from the successful construction and

operational start of the R1 Motorway.

Industry Recognition 2013

PFI Award 2013 - Bond Deal of the Year – Europe

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Client: Stadler Minsk, the JV between Stadler Rail, a Swiss leading system

supplier of customer-specific solutions for rolling stock, and the Minsk

Region Executive Committee, an executive government body in

Belarus

EBRD finance: EUR 26.0 million

Type of finance: Senior Loan

Total Project cost: EUR 73.7 million

Year: 2013-2014

Project description: Construction of new modern production facilities on a greenfield site

and the modernisation of existing tram and trolleybus production

facilities of Belkommunmash (BKM), a leading Belarusian

manufacturer of trolleybuses and trams in CIS

Impact: Utilising the latest manufacturing technologies and providing skills

and know-how transfer from Stadler to the JV’s local employees

Demonstrating the successful reorganisation of a state-owned

entity to a majority privately-owned company controlled by a

Western strategic sponsor through the establishment of the JV

Introducing an enhanced management system structured in

accordance with international standards

The project supports the reorganisation and commercialisation of a state-owned entity into a

majority private-owned company, and introduces advanced technologies in manufacturing of

rolling stock.

Case Study Rail Wagon Production Facilities, Belarus

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Client: Mersin International Port

EBRD finance: EUR 61.2 million

Type of finance: Eurobond

Total Project cost: EUR 634 million

Year: 2013

Project description: Financing part of the capital investment programme for the capacity

expansion of Mersin Port and optimisation of the Company’s long

debt financing

Impact: Demonstrating new ways of financing infrastructure through

participation in the debut bond issue by an infrastructure company

Contributing to improvement in the quality and variety of port

services, expansion of the product offering by the Company, and

encouraging further development of regional port hubs as well as

increased transhipment

Strengthening competitive position of Mersin port with respect to

its main competitors in the Eastern Mediterranean

Case Study Turkey’s First Infrastructure Bond – Mersin Port

Industry Recognition 2013

Port Deal of the Year (MEA)

The project demonstrates a new way of financing for private Turkish infrastructure

companies via Eurobond issue and supports private sector investments in port infrastructure

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Client: DCT Gdansk S.A.

EBRD finance: EUR 31.0 million

Type of finance: Senior loan

Total Project cost: EUR 361.0 million

Year: 2014

Project description: Construction of the second deep-water container terminal at the Port

of Gdansk, home to the only deep-water container port facility in

Poland

Impact: Doubling the Polish containerisation ratio from 43 TEU per 1,000

inhabitants handled annually in 2014 to 86 TEU handled by 2020

Expanding the market interactions in other sectors by supporting

the development of intermodal logistics transport in Poland as well

as alleviating bottlenecks and capacity constraints

The project supports market expansion through a capacity increase in deep sea cargo

infrastructure, as well as the incorporation of cutting edge technologies and best practices in

energy management to consolidate its strong energy efficiency focus

Case Study Deep-Water Container Terminal, Poland

Industry Recognition 2014

European Port Deal of the Year

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Client: PIMK Holding Group AD

EBRD finance: EUR 5.0 million

Type of finance: Senior Loan

Total Project cost: EUR 7.6 million

Year: 2015

Project description: To finance PIMK’s investment in an intermodal cargo terminal for

loading/unloading of standard unaccompanied semi-trailers

Impact: The project will support expansion of logistics and intermodal

services by the private sector, leading to a more efficient, reliable

and cost effective transport system

Promoting a switch to greener transport modes for European

freight traffic, encouraging lower-emission in the sector.

The project supports a leading Bulgarian company operating in international freight transport

Case Study PIMK, Bulgaria

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Client: YDA Havalimani Yatirim ve Isletme A.S, a special purpose company

established by YDA construction

EBRD finance: EUR 162 million (EUR 81million A loan and EUR 81million B loan)

Type of finance: Senior loan

Total Project cost: EUR 372.6 million

Year: 2014

Project description: Construction of a new domestic terminal for Dalaman Airport including

ancillary facilities

Impact: Expansion and further consolidation of private sector involvement in

the transfer of benefits in terms of quality, efficient risk allocation,

cost efficiency and timely delivery of large infrastructure investment

Establishment of systematic approach to Energy Management

based on the framework of continuous improvement and roll out of

Energy Management System for all operations

The operation supports a private sector operator to design, construct and operate a new

domestic terminal for Dalaman Airport and to manage the existing international terminal

(from May 2015) under a Concession Agreement until 2040. This is the first regional airport

PPP financed by the Bank in Turkey. The project also aims to enhance standards for corporate

governance and business conduct.

Case Study Dalaman Airport, Turkey

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Transport Finance Deal of the Year (Dalaman Airport)

Local Bond Deal of the Year (YDA)

Project

Summary

Case Study Armenia International Airport Phase II

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Client

Armenian International Airports CJSC (ArIA), incorporated in Armenia and controlled by American International Airports LLC. ArIA has obtained a 30-year concession to manage operations at Zvartnots Airport, Yerevan

EBRD Finance

US$ 40 million equivalent senior loan; parallel financing to be provided by DEG and ADB. Total project cost is US$ 173 million

Use of proceeds

Construction and purchase of equipment for the second phase of the passenger terminal complex at Zvartnots International Airport (after successful completion, in 2007, of the first phase of the passenger terminal, for which EBRD provided a US$ 20 million loan)

EBRD value added

Private ownership support in the sector; demonstration effect in the Caucasus region; transfer of know-how; increase of competition in regional air transportation

2009 Signed in

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Recent awards and recognition

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EUR 162 million EBRD loan syndicated

to commercial lenders, while total

project size is EUR 372.6 million.

Proceeds to be used for construction of

a new domestic terminal for Dalaman

Airport.

Turkey Bonds & Loans Awards 2015

Transport Finance Deal of the Year

Dalaman Airport,

Turkey

EUR 81 million projects, partially

financed by EBRD senior loan of EUR

27.5 million and a parallel SEB loan

Proceeds were used to expand

container terminal at Klaipeda Port.

Lithuania Investors’ Forum

Investor of the Year 2014

Klaipedos Smelte,

Lithuania

EBRD EUR 75 million senior loan, co-

financed by a syndicate of commercial

lenders providing the remaining EUR

259 million of the debt facility

Proceeds were used to for the capital

investment to construct a second

container terminal at the Port of

Gdansk

IJGlobal Europe & Africa Award 2014:

European Port Deal of the Year

DCT Gdansk,

Poland

Contacts & Useful Links

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Sue Barrett

Director – Transport

tel: + 44 207 338 6733

email: barretts@ebrd.com

EBRD

One Exchange Square

London EC2A 2JN, United Kingdom

For all transport sector enquiries, please

contact :

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Leonor Fontoura

Business Development Representative – North America

tel: + 1 (202) 817 0601

email: fontourl@ebrd.com

EBRD

Representative Office - North America

Washington D.C. (soon opening)

For all EBRD enquiries, please contact :

Working with us: http://www.ebrd.com/work-with-us.html

- Project Finance, including Project Summary Documents:

- Procurement, including Project Procurement, Consultancy Services, other opportunities

Useful Links