IFC to structure Saint Lucia PPP airport

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IFC to structure Saint Lucia PPP airport

IFC, a member of the World Bank Group, has announced it has been chosen as the lead advisor to assist the Saint Lucia Air and Sea Ports Authority (SLASPA) and the Government of Saint Lucia structure a public-private partnership for the redevelopment and operation of the Hewanorra International Airport.

In late January 2014, the IFC launched tenders to seek a Technical Consultant, a Legal consultant and an auditor for support throughout the transaction.

The Hewanorra International Airport is the main gateway to Saint Lucia and sees approximately 660,000 passengers each year. However, it faces severe congestion in its terminal and the area where aircraft are parked, unloaded and boarded. This significantly limits its ability to support current passenger traffic and future growth in traffic. The tourism industry is a key engine of Saint Lucia's economy, making a significant contribution to gross domestic product.

Hon. Dr. Kenny Anthony, Prime Minister, said:

"The redevelopment of the Hewanorra International Airport will support Saint Lucia's long-term economic and social development. With support from IFC, we are engaging in a transparent process to ensure the airport is redeveloped to international standards, attracts the best airport management, and creates opportunities for the people of Saint Lucia."

As part of its mandate, IFC will conduct a detailed technical, legal and financial analysis of the airport, a comprehensive assessment of development options, and recommend a transaction structure. IFC will also assist in conducting a transparent and competitive bidding process to identify a qualified private sector partner for the sustainable development of the Hewanorra International Airport under a public-private partnership.

Since 2000, IFC has committed $2.1 billion in the Caribbean, including $515.8 million in mobilizations. IFC supports public-private partnerships in energy, transport and logistics infrastructure.

This transaction is supported by the Department of Foreign Affairs, Trade and Development Canada (DFATD) an important partner in providing financial support for IFC's advisory services in Caribbean.

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