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

February 2016

OFFICIAL USE 2 OFFICIAL USE What is the EBRD?

• An international financial institution, Shareholding structure - EBRD has a AAA rating from all promotes transition to market three main rating agencies (S&P, Moody’s and Fitch) economies 36 countries from central Europe to central Asia and the Southern Japan and Eastern Mediterranean – SEMED 8,6% region. USA 10,1% EU 27 • Owned by 64 countries and 2 Countries (1) Others 58.7% inter-governmental institutions (EU, EIB). 8,7%

• Capital base of €30 billion. EBRD region excluding EU 13.8% • Cyprus and Greece became recipient countries on a temporary basis in May 2014 and 2015, respectively.

• EUR 107 billion invested since 1991, in (1) Includes European Community and European Investment Bank (EIB) each at 3%. Among other EU countries: France, Germany, Italy, and the 4,400+ operations. UK each holds 8.6%

OFFICIAL USE 3 Mission and Vision Three Key Principles

Promotes transition to market economies, private ownership and good governance with respect for people and environment

Transition Impact Supports, but does not replace, private investment. Provides financing otherwise not available, at reasonable terms Invests in financially viable EBRD projects, together with the private sector

Sound Additionality Banking

OFFICIAL USE 4 EBRD’s objectives achieved through financing the private sector

Net cumulative business investment EUR107bn E EUR billion 12 110 105 AAA/Aaa rated multilateral 11 100 95

10 cumulative Net development bank 90 85 9 80 Invested over EUR 107 billion in more than 8 75 70 4,400 projects since 1991 7 65

60 investment business

investment (ABI) 6 55 50 5 45 40 In 2015: 4 35 30 3

25 Annual Annual business

• EUR 9.3 billion invested in 381 projects 2 20 15 • Private sector accounted for 70% share 1 10 5 • Debt 82%, Equity 14% & Guarantee 4% 0 0

Debt ABI Equity ABI Net Cumulative Business Investment

10 February, 2016 OFFICIAL USE 5 Geographic Coverage

10 February, 2016 OFFICIAL USE 6 Country Group Portfolio Distribution

18% South-eastern Europe - 15% 15% 15% Eastern Europe & Caucasus -17%

Central Asia - 14% 14% 17% Turkey - 20%

Russia - 1% 4% 1% Greece & Cyprus - 4% 14% 20% Central Europe & Baltics - 14%

Southern & Eastern Mediterranean - 15%

Net cumulative business investment €107bn

Note: as at end December 2015

10 February, 2016 OFFICIAL USE 7 Projects in all key business sectors

Transport Municipal & Environmental Property & Tourism Nuclear Safety Infrastructure

Financial Institutions Natural Resources Telecommunications, Climate Finance Informatics & Media

Manufacturing & Power & Energy Agribusiness Equity Funds Services

OFFICIAL USE 8 Extensive offer of tailored financial products

Debt Equity

• Senior, subordinated, convertible • Common or preferred stock • Loans to the private sector (up to 35%, • Minority position only (up to 25%), syndicating the rest), including SME investing with majority sponsor to • Sovereign, sovereign guaranteed and reduce equity burden and add loans to state owned companies partnership value. • Debt co-financing, with commercial • Privatisation and initial public offering banks and IFIs (IPO) • Project finance loans (incl. PPP) • Mezzanine equity and subordinated debt • Hard/local currency. Fixed/floating rates • Infrastructure funds • Syndication under preferred creditor status • PPP • Access to capital markets Technical Cooperation

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

OFFICIAL USE 9 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

OFFICIAL USE 10 EBRD in the Transport Sector

11 OFFICIAL USE Transport within Infrastructure Business Group

INFRASTRUCTURE Business Group

TRANSPORT MEI INFRASTRUCTURE South & Central Europe, SEMED South & Central Europe, SEMED Russia & Central Asia

Albania, Armenia, Azerbaijan, Albania, Armenia, Azerbaijan, , Bosnia and Belarus, Bosnia and Herzegovina, , Croatia, Herzegovina, Bulgaria, Croatia, , Cyprus, Egypt, Estonia, FYR Cyprus, Egypt, Estonia, FYR Kyrgyz Republic, Macedonia, Georgia, Greece, Macedonia, Georgia, Greece, Mongolia, Hungary, Jordan, Kosovo, Hungary, Jordan, Kosovo, Russian Federation, , Lithuania, , Latvia, Lithuania, Moldova, Tajikistan, Montenegro, Morocco, Poland, Montenegro, Morocco, Poland, Turkmenistan, Romania, Serbia, Slovak Romania, Serbia, Slovak Uzbekistan Republic, Slovenia, Turkey, Republic, Slovenia, Turkey, Tunisia, Tunisia, Ukraine

OFFICIAL USE 12 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

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

OFFICIAL USE 13 EBRD’s presence in Transport Sector

Portfolio by Region Portfolio by Sector

Turkey, 5% Central Asia 12% Aviation 6% 12 projects/ 34 projects/ Road 46% 41 projects/ South-Eastern €0.6 bn € 1.7 bn 85 projects/ Central Europe and €0.9 bn Europe 25% €6.5 bn Intermodal 5% 68 projects/ Baltics 17% 17 projects/ €3.5 bn 62 projects/ €0.7 bn €2.4 bn Ports and Shipping 9% 54 projects/ SEMED 2% €1.2 bn 2 project/ €0.3 bn

Russia 20% Eastern Europe and 41 projects/ Regional 2% Caucasus 17% Rail 34% €2.8 bn 4 projects/ 54 projects/ 80 projects/ €0.2 bn €2.4 bn €4.7 bn

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

OFFICIAL USE 14 The Bank invests in a broad range of Transport projects including, but not limited to…

Road rehabilitation and construction of new highways, Road secondary and rural roads, by-passes, maintenance equipment and contracting, toll-motorway construction and operation Rehabilitation, maintenance and construction of rail Rail infrastructure (track, signaling, power supply, civil structures), rolling stock, maintenance and ancillary facilities Rehabilitation and construction of port infrastructure (berths, Ports & Shipping quays, land access), superstructure (warehouses, gantries), inland waterways, and vessels (acquisition and retrofitting)

Logistics & Construction of intermodal terminals & logistic centres, fleet Intermodal and equipment, support to intermodal operators

Rehabilitation and construction of airport infrastructure and Aviation terminals for passenger & cargo, airline finance, air navigation services (ANS)

OFFICIAL USE 15 EBRD in the Road Sector

• 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 At a Glance principles and PPP in the management of • No. projects: 85 (31% of portfolio) road infrastructure • No. Countries: 25 • Capacity building on road safety and outreach activities in the context of the • EBRD Finance/Project Value: EUR Decade of Action for Road Safety 6.5 billion / EUR 27.2 billion • Implementation of ITS technologies to improve traffic management

OFFICIAL USE 16 Some references in the Road Sector

• Removal of bottlenecks and reduction of Some clients in the road sector traffic congestion through financing key road infrastructure (WHSD, St Petersburg/Eurasia Tunnel, Istanbul, etc.) Private companies • 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.) State-owned companies • 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

OFFICIAL USE 17 EBRD in the Rail Sector

• 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 At a Glance • Focussed on bringing infrastructure to international standards of safety, security and • No. projects: 80 (29% of portfolio) environmental compliance • No. Countries: 24 • EBRD Finance/Project Value: EUR 4.7 Promoting the rail system as an environmentally • billion / EUR 15.5 billion sustainable transport mode, whilst encouraging energy efficiency technologies to keep its competitive advantage

OFFICIAL USE 18 Some references in the Rail Sector

• Renewal of the rolling stock: acquisition of Some clients in the rail sector 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

OFFICIAL USE 19 EBRD in the Maritime Sector

• 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 At a Glance regulations • No. projects: 54 (20% of portfolio) − Promotion of short sea shipping • No. Countries: 18 • Long established policy dialogue with regional • EBRD Finance/Project Value: EUR 1.2 billion / EUR 4.2 billion governments on the commercialisation of port infrastructure and the separation of port infrastructure management from the state

OFFICIAL USE 20 Some references in the Maritime Sector

• Pre and post delivery financing of Fleet Some clients in the maritime sector 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

OFFICIAL USE 21 EBRD in the Logistics & Intermodal Sector

• 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 At a Glance1 • Development of intermodal services and green • No. projects: 17 (6% of portfolio) logistics • No. Countries: 7 • The Bank is able to support privatisation • EBRD Finance/Project Value: EUR 0.7 billion / EUR 1.9 billion alongside a strategic investor as a debt or equity partner

1. Excludes those projects already accounted for under other subsectors

OFFICIAL USE 22 Some references in Logistics & Intermodal Sector

• Intermodal operations – multipurpose Some clients in the logistics sector 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

OFFICIAL USE 23 EBRD in the Aviation Sector

• 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 At a Glance environmental standards by promoting • No. projects: 41 (15% of portfolio) international best practice • No. Countries: 18 • Promoters of energy efficiency in the sector, • EBRD Finance/Project Value: EUR including governance standards, emission 0.9 billion / EUR 3.5 billion reduction and improvements to the built environment

OFFICIAL USE 24 Some references in the Aviation Sector

• Regional Specialist delivering PPP Some clients in the aviation sector 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

OFFICIAL USE 25 Case Studies

26 OFFICIAL USE Case Study Global Ports Holding , Turkey

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a 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.

OFFICIAL USE 27 Case Study M6 Motorway, Hungary

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a 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.

OFFICIAL USE 28 Case Study Regional Roads Project, Kosovo

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a 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.

OFFICIAL USE 29 Case Study Olimpex Dry Port, Ukraine

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a Client: GNT Olimpex Holding Ltd., a holding company of a group of leading private port operators in Ukraine EBRD finance: USD 18.7 million GNT Olimpex Holding Ltd. 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.

OFFICIAL USE 30 Case Study R1 Motorway Refinancing, Slovakia

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a 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

OFFICIAL USE 31 Case Study Rail Wagon Production Facilities, Belarus

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a Client: Stadler , 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 and production facilities of Belkommunmash (BKM), a leading Belarusian manufacturer of and 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.

OFFICIAL USE 32 Case Study Turkey’s First Infrastructure Bond – Mersin Port

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a 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

The project demonstrates a new way of financing for private Turkish infrastructure companies via Eurobond issue and supports private sector investments in port infrastructure

Industry Recognition 2013 Port Deal of the Year (MEA)

OFFICIAL USE 33 Case Study Deep-Water Container Terminal, Poland

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a 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

Industry Recognition 2014 European Port Deal of the Year

OFFICIAL USE 34 Case Study PIMK, Bulgaria

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a 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

OFFICIAL USE 35 Case Study Dalaman Airport, Turkey

a Client:a 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.

 Transport Finance Deal of the Year (Dalaman Airport)  Local Bond Deal of the Year (YDA)

OFFICIAL USE 36 Case Study Armenia International Airport Phase II

Project Client Summary Signed in Armenian International Airports CJSC (ArIA), incorporated in Armenia and controlled by American International Airports LLC. ArIA has obtained a 30- 2009 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

OFFICIAL USE 37 Recent awards and recognition

Dalaman Airport, Klaipedos Smelte, DCT Gdansk, Turkey Lithuania Poland

 EUR 162 million EBRD loan syndicated  EUR 81 million projects, partially  EBRD EUR 75 million senior loan, co- to commercial lenders, while total financed by EBRD senior loan of EUR financed by a syndicate of commercial project size is EUR 372.6 million. 27.5 million and a parallel SEB loan lenders providing the remaining EUR 259 million of the debt facility  Proceeds to be used for construction of  Proceeds were used to expand a new domestic terminal for Dalaman container terminal at Klaipeda Port.  Proceeds were used to for the capital Airport. investment to construct a second

container terminal at the Port of Gdansk

Lithuania Investors’ Forum IJGlobal Europe & Africa Award 2014: Turkey Bonds & Loans Awards 2015 Investor of the Year 2014 European Port Deal of the Year Transport Finance Deal of the Year

OFFICIAL USE 38 Contacts & Useful Links

For all transport sector enquiries, please For all EBRD enquiries, please contact : contact : Sue Barrett Leonor Fontoura Director – Transport Business Development Representative – North America tel: + 44 207 338 6733 tel: + 1 (202) 817 0601 email: [email protected] email: [email protected]

EBRD EBRD One Exchange Square Representative Office - North America London EC2A 2JN, United Kingdom Washington D.C. (soon opening)

Useful Links 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

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