Airport operator TAV has signed a Eur392.5 ($613m) project finance loan to fund the development of two airports in Tunisia.
In 2007, Turkey's TAV won two 40-year contracts to develop the airports at Enfidha and Monastir.
The deal is being financed by International Finance Corporation, a division of the World Bank, and commercial banks ABN Amro, Societe Generale, and Standard Bank. The loan will have a 20-year tenor, with an initial grace period for the first two years.
The deal has been arranged through TAV Tunisie, a unit of Turkey's TAV established to lead the two airport projects.
The concession deal for the airports was signed in March 2007, and includes plans to increase capacity at Enfidha airport to 7 million passengers annually.
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