The European Bank for Reconstruction and Development (EBRD) is considering joining a group of lenders to provide long-term financing to the concessionaire for the privatization of 14 Greek regional airports.

The Greek government is in the process of implementing a significant privatization programme, which includes the privatization of 14 regional airports in Greece with a view to transferring responsibility for their modernization, maintenance, management and operation to the private sector under long-term concession agreements.

Fraport Greece, the concessionaire for the 14 Greek regional airports, is owned by Fraport AG and Copelouzos Group. The concession agreements were signed with the Hellenic Republic Asset Development Fund S.A. (HRADF) and the Republic of Greece on 14 December 2015.

EBRD's financing (€90 million, US$101 million) would support the expansion of private sector participation in the airport sector in Greece.

The proposed project is a significant large scale infrastructure project in Greece to be financed under a Public Private Partnership (PPP) arrangement.

The successful completion of the project is expected to demonstrate that well-structured PPPs in Greece will generate investor appetite and bring large scale external investment into the Greek economy.