Vinci Airports S.A.S. and ANA – Aeroportos de Portugal are expected to own respectively 70% and 30% of the special purpose vehicle (SPV) Cabo Verde Airports S.A, which was registered in Cabo Verde in May-2022. Headquartered in Paris, Vinci Airports S.A.S. is one of the largest global airports operators, managing in total 65 airports across 12 countries in Europe, South Asia and Latin America, and handling 187 million passengers in 2022. A 100% subsidiary of Vinci Airports, ANA – Aeroportos de Portugal is Portugal’s lead airport operator, with 10 airports under concession.

The Project’s total cost for Phase 1-A is estimated at EUR 135 million (out of which (a) EUR 35 million for the first instalment of the upfront concession fee and (b) EUR 49 million for the estimated EPC cost). IFC’s proposed investment is an IFC A loan of up to EUR 30 million and the provision of interest rate swaps covering the whole loan amount.

The Project is located on seven islands of the archipelago of Cabo Verde, which is composed of nine inhabited islands. The islands where the airports are located are Sal, Boa Vista, Santiago (Praia), Sao Vincente, Sao Filipe, Sao Nicolau and Maio.   

This is a Category B project according to IFC’s Policy on E&S Sustainability as the impacts associated with the project are limited and site specific. No physical or economic displacement associated with any land acquisition required for the future concession area is expected. Risks and impacts associated with airport operations and with any construction activities can be addressed through the implementation of good international industry practices (GIIP).

Key E&S issues reviewed at appraisal included the E&S management system (ESMS), labor and working conditions, resource use and efficiency, waste management, legacy sub-surface contamination, health and safety of surrounding communities, including noise impacts from ground and aircraft operations, and airport operation safety, emergency response, life and fire safety, land acquisition, and biodiversity management.