EU: go-ahead for BBI funding13.05.2009
“We welcome today’s decision from Brussels”, said the governing mayor of Berlin and Chairman of the Supervisory Board of Berlin Airports, Klaus Wowereit: “The loan guarantee enables Berlin, Brandenburg and the government to secure a line of credit for the most important traffic and development project in the German capital region.” The Minister President of Brandenburg now sees all systems go for the region’s biggest infrastructure project. The CEO of Berlin Airports, Dr. Rainer Schwarz, is also delighted at the positive response from Brussels: “The decision gives us and the numerous banks planning security. We now have a reliable basis for concrete negotiations. Our goal to successfully secure funding for BBI in the second half-year of 2009 remains.”
The first loan contribution is already available. The EIB and Berlin Airports have already signed a loan agreement worth 400 million euros. The EIB and Berlin Airports also intend signing a subsequent loan agreement worth 600 million euros.
Background: last year, Berlin Airports had changed their funding concept for the Capital Airport BBI. In view of the emerging financial and economic crisis, Berlin, Brandenburg and the Federal Republic had agreed with the airport company to guarantee the loan for BBI (volume: 2.4 billion euros) by means of a 100% government loan guarantee. In mid March 2009, the Federal Government officially submitted a notification brief to the European Commission, following preliminary talks with the Commission since the beginning of the year.