📋 Tender Overview
Project Number
51098
Company Name
CABO VERDE AIRPORTS S.A.
Date ESRS Disclosed
Sep 8, 2025
Country
Cabo Verde
Region
Africa
Last Updated Date
Environmental Category
B - Limited
Status
Pending Approval
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-
