PROJECT

Projects

Environmental & Social Review Summary

Project Number

51098

Company Name

CABO VERDE AIRPORTS S.A.

Date ESRS Disclosed

Sep 8, 2025

Country

Cabo Verde

Region

Africa

Last Updated Date

Jan 12, 2026

Environmental Category

B - Limited

Status

Active

Previous Events

Approved : Oct 23, 2025
Signed : Dec 3, 2025
Invested : Jan 8, 2026

Sector

Airport Operations

Industry

other

Department

Regional Industry - INF Africa

Project Description

In 2022, the Government Republic of Cape Verde awarded to VINCI Airports a Concession to operate, manage, finance and maintain 7 airports (4 international airports and 3 aerodromes). On July 18th, 2022, a Concession Contract was signed between the Republic of Cape Verde and Cabo Verde Airports, S.A. (CVA, subsidiary of VINCI Airports), the concessionaire of all airports effective from July 2023. The CA is executed by Cabo Verde Airports S.A. (CVA or the Company) established by the Sponsors in Cabo Verde. The airports under the project are i) Amílcar Cabral International Airport (SID) on Sal Island; ii) Nelson Mandela International Airport (RAI) on Santiago Island; iii) Aristides Pereira International Airport (BVC) on Boa Vista Island; iv) Cesária Evora International Airport (VXE) on São Vicente Island; v) Preguiça Airport (SNE) on São Nicolau Island; vi) São Filipe Airport (SFL) on Fogo Island; and vii) Maio Airport (MMO) on Maio Island.

The investment plan was split into two phases, (Phase 1-A and Phase 1-B), including both mandatory works and additional works required to accommodate traffic growth. Phase 1-A consists of (i) mandatory works to ensure International Civil Aviation Organization (ICAO) compliance at all international airports, (ii) operations safety improvements at the domestic airports, (iii) passenger experience, commercial and/or technical improvements at passenger terminal buildings, (iv) environmental improvements including in relation to drainage, resource and systems efficiency (water and energy use),  (v) installation of renewable energy infrastructure (solar) at the four international airports, and (vi) integration into the VINCI network.  Phase 1-B include additional works related to capacity increases to handle forecasted traffic at an optimum level of service at all times planned for when passenger and air traffic volumes recover to 2019 levels as well as environmental improvements.

In 2023, IFC funded Phase 1-A activities together with other DFIs. An Environmental and Social (E&S) due diligence was completed for both phase 1-A and Phase 1-B activities. The E&S Review Summary (ESRS) and E&S Action Plan (ESAP) for Phase 1-A were disclosed on the IFC disclosure site on April 7, 2023 - https://disclosures.ifc.org/project-detail/ESRS/43450/cv-airports. Based on a site supervision conducted in April 2025, the E&S performance of the Phase 1-A project is satisfactory.

The proposed investment comprises (i) an IFC sustainability-linked A loan and (ii) the provision of interest rate swaps on a portion of the loan amount. The loan amount will be primarily used to cover part of EPC costs for the Phase 1-B works with key investments including (a) terminal expansion at five airports, (b) installation of solid waste treatment facilities including incinerators, wastewater treatment plants and implementing a fire vehicle training water recycling system at all international airports as well as providing solid waste systems (excluding incinerators) and septic tanks at three aerodromes, and (c) the BVC international airport runway expansion totalling 400m  and Airfield ground lighting adequation for night operation. CVA will start designing the runway expansion in-house and package the rest of Phase 1-B works for an Engineer Procure Construct (EPC) contract to be awarded by late 2025. Construction will begin in early 2026 and is expected to run for 36 months and be complete by the end of 2028.

Overview of IFC's Scope of Review

IFC's E&S review of the proposed investment included a site visit to three of the international airports; RAI, BVC and SID in April 2025. The team engaged with senior management from CVA specifically the Operations Manager, Environmental, Health, Safety, and Social (EHSS) Manager, Human Resource (HR) Manager, and Managing Directors of each airport visited. Key stakeholders engaged include Praia City Council (Camâra Municipal da Praia) on Santiago Island, the Africa Show Association, and the Ribeira do Rabil Community Association at BVC; the Lomba Branca and Fortino communities at SID and Union Leaders in Sal. Additionally, the management of the TDAR Consortium in charge of the Phase 1-A works, and the external E&S consultant overseeing Phase 1-A construction were engaged. Furthermore, IFC and the Lenders Independent Environmental and Social Consultant (LESA) reviewed the Phase 1-A project E&S performance. Finally, IFC and the LESA reviewed relevant documentation, including corporate and site-level policies and operational procedures, E&S impact assessments (ESIAs-disclosed in draft form), HR procedures manuals, and the LESA updated the project E&S due diligence with Phase 1-B specific risks and proposed mitigations.

E & S Project Categorization and Applicable Standard

Environmental and Social Mitigation Measures

Stakeholder Engagement

Broad Community Support

Environmental & Social Action Plan