The European Bank for Reconstruction and Development (EBRD) has made an indirect equity investment in SOF Connect, which operates and manages the Sofia airport through a concession agreement with the Bulgarian government. The EBRD will invest a total of EUR74.3 million (US$87.95 million), including a EUR58 million (US$68.65 million) equity investment and a further EUR16.3 million (US$19.29 million) contingent equity exposure.

SOF Connect is a joint venture between Meridiam, Munich airport and Strabag, which started operating in April 2021. The company has committed to a significant airport investment plan, consisting of building a new, third Terminal over the next 10 years and making environmental, health and safety upgrades.

Meridiam, the majority owner of SOF Connect, aims to make the airport a model of sustainability. As part of the concession agreement, the operator has committed to improving corporate climate governance and to applying the recommendations of the Task Force on Climate-related Financial Disclosures. The airport will target climate neutrality by 2036.

Sofia airport is the main international airport in Bulgaria. The arrival of EBRD, a leading private-sector operator, is expected to increase the airport’s competitiveness and improve service standards.