Sberbank will support Sheremetyevo Airport in the reconstruction of airport infrastructure.

Sberbank and Sheremetyevo International Airport reached an agreement on cooperation as part of a RUB 11 billion credit facility to finance capital expenses under Russia’s first concession agreement for new construction and reconstruction of the airport infrastructure.

The concession agreement was signed at the end of 2018 between Sheremetyevo International Airport Joint-Stock Company and the Russian Federation represented by the Federal Agency for Air Transport (Rosaviatsiya). The term of the agreement is 49 years. The total amount of investment is about RUB 61 billion.

Olga Kharlamova, Vice President and Director of the Key Clients Lending Department of Sberbank's Corporate and Investment Business Block, said: "The loan agreement covers the concession holder's need for additional financing for the next two years. Previously, Sberbank provided a guarantee to secure the airport's obligations on behalf of Rosaviatsiya as part of this project. The comprehensive support of the concession agreement with Sberbank's credit products is an important step in the further development of our cooperation."
In turn, Alexander Oleynik, Deputy Director General for Economy and Finance at Sheremetyevo International Airport (SIA) JSC, noted: "Sberbank has been a strategic partner of SIA JSC for many years. The execution of this deal on favorable financing terms and conditions offered by Sberbank will allow SIA JSC to reduce the burden on airlines and passengers."

One of the key aspects of the concession agreement is the construction and reconstruction of airport facilities, allowing the airport to serve steadily growing passenger and cargo traffic, and support for future modernization and capital repair of Sheremetyevo Airport through extrabudgetary investments. According to the concession agreement, all funds obtained through investments may only be used to finance those expenses related to construction and reconstruction of airport infrastructure (runways, concourses, taxiways, and treatment facilities).