European bank acquires indirect stake in Jordan airport firm

The European Bank for Reconstruction and Development (EBRD), an international financial institution, has purchased an indirect stake in Airport International Group (AIG), the operator of Queen Alia International Airport (QAIA) in Jordan.

According to a statement released by the bank, the EBRD is committing up to €30.5 million ($34.8 million) to AIG through the acquisition of an indirect stake in Meridiam Eastern Europe Investments, which acquired 32 per cent of AIG last year.

Through this purchase, the EBRD 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, it said.

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.

Jordan became an EBRD shareholder in 2012 and the bank has contributed more than €1.3 billion ($1.48 billion) for 43 projects to date, in addition to $120 million in trade facilitation lines to local banks. - TradeArabia News Service

Disclaimer: The content of this article is syndicated or provided to this website from an external third party provider. We are not responsible for, and do not control, such external websites, entities, applications or media publishers. The body of the text is provided on an “as is” and “as available” basis and has not been edited in any way. Neither we nor our affiliates guarantee the accuracy of or endorse the views or opinions expressed in this article. Read our full disclaimer policy here.