AIG, the Project Company, has 6 shareholders: (i) Abu Dhabi Investment Company (38%); (ii) Noor Financial Investments (24%); (iii) Engineering and Development Group (9.5%); (iv) Aeroports de Paris Management (9.5%); (v) J&P Overseas Limited (9.5%); and (vi) J&P Avax SA (9.5%).

Abu Dhabi Investment Company (ADIC) was the first investment company in the United Arab Emirates and is one of the leading investment firms in the region. ADIC invests in infrastructure, private equity and real estate and provides corporate finance and project finance services.

Noor Financial Investments (Noor) is a Kuwaiti financial investment company, established in 2003 as the financial arm of National Industries Group (NIG), a listed petrochemicals and heavy industries construction group. Noor has invested in a number of infrastructure initiatives where NIG had an interest as contractor, mainly in Kuwait, Pakistan, China and India.

Aeroports de Paris Management (AdPM) is the operational arm of Aeroport de Paris (AdP) responsible for airport investment, operations and management services worldwide. AdP operates the two main airports in Paris (Charles de Gaulle and Orly) and over 20 airports worldwide. The AdP Group is listed on the Paris stock exchange.
J&P Overseas Ltd (J&P) is the holding company of the Cyprus privately owned design, procurement and construction group “Joannou & Paraskevaides”, with business interests in Europe, the Middle East, Asia and Africa.
J&P Avax S.A. (J&P Avax) is the Greek subsidiary of J&P, listed on the Athens Stock Exchange. J&P Avax is a significant player in the PPP market in Greece and has participated as a contractor and shareholder in a number of projects and also has operations in other parts of Europe, the Middle East and Africa.
Edgo Investment Holdings Ltd. (EDGO) is an Amman-based investment group (registered in UK) with offices across the Middle East and Africa. It is active in the oil & gas, power and water sector as an independent contractor, joint venture partner or supplier of equipment.

The total cost of the Expansion is estimated at about US$150 million, to be financed by a combination of debt and equity. IFC’s investment is expected to consist of loans of up to US$30 million to AIG for IFC’s own account. IFC plans to arrange additional debt funding of up to US$70 million.

21.20 million (USD)

Product Line	IFC Investment (million USD)
Risk Management
Guarantee
Loan	21.20
Equity

* These investment figures are indicative

QAIA is located 36 km away from downtown Amman and the entire site, including that for the Expansion belongs to the airport.

The project will enhance the transport infrastructure in Jordan which will (i) enhance the revenues of the Government of Jordan through the generation of additional royalties via the payment of a concession fee; (ii) support the tourism industry of Jordan, facilitating the increased number of tourists in Jordan and indirectly supporting the country''s economy; (iii) preserve local jobs with the additional construction lasting three years and further developing local talent and expertise; and (iv) increase efficiencies and reduce costs across the value chain.

IFC''s role and additionality for this Project will include: i. Long-term relationship: IFC is currently invested in Queen Alia airport and participation in the expansion represents an opportunity to continue supporting this mega infrastructure project in Jordan and in a shorter timeline than alternative financial institutions. ii. Mobilization: Through IFC''s participation, other multilaterals and commercial banks will also be comfortable in participating in this funding round, resulting in completion of the financial plan.

This proposed project is classified as Category B according to IFC’s Procedure for Environmental and Social Review of Projects as the environmental and social impacts of the projects are limited, site-specific and can be minimized, avoided or mitigated by adhering to generally recognized performance standards, guidelines, or design criteria. Key environmental and social issues associated with this project include: i) environmental and occupational health and safety management systems and procedures during construction and operation; ii) regulatory compliance with applicable environmental and social national laws and regulations and recognized international standards as requested by the QAIA Rehabilitation, Expansion and Operation Agreement (REOA); iii) implementation of appropriate HR policies and procedures; iv) Occupational Health and Safety (OHS) risks for employees; v) wastewater treatment and disposal; vi) life and fire safety; vii) fuel/hazardous materials storage and handling; viii) aircraft noise mitigation and ix) bird hazards.



The airport is located in a relatively remote area and the project is limited to the construction activities at an existing, operating airport, and there is no need for additional land acquisition and access. Nor are there threats to biodiversity, including habitat destruction, owing to the airport’s desert surroundings. There are no indigenous peoples affected by the airport development. During construction, should any fossils, coins, articles of cultural value or antiquity or other similar remains be found, AIG is required under the REOA to immediately inform the relevant Government Authority and effect such investigations deemed necessary by the Authority. Therefore no issues have been identified in relation with Performance Standards (PS) 5, PS 6, PS7 or PS 8.

Please refer to the related Environmental and Social Review Summary (ESRS) document for this project.

Please refer to the Environmental and Social Action Plan (ESAP) tab in the related Environmental and Social Review Summary (ESRS) document for this project.