Senegal secures 300 Million Euros for Blaise Diagne International Airport development

image credit: Blaise Diagne International Airport

Senegal has successfully secured up to 300 million euros ($328.20 million) in financing for the expansion and enhancement of its primary international airport, announced asset manager Ninety One on Thursday.

Blaise Diagne International Airport (AIBD), which commenced operations in 2017, is situated outside the capital city Dakar and is managed by a state-owned entity.

In a statement, Ninety One revealed its collaboration with Standard Chartered Bank, serving as the mandated lead arranger and bookrunner, to provide funding of up to 100 million euros.

Additionally, the airport raised 200 million euros from a consortium of banks.

The allocated investment will be utilized to augment annual passenger capacity by 40%, surpassing the 5 million mark, and to construct a dedicated cargo terminal, according to the asset manager.

Reabetswe Kungwane, an investment specialist at Ninety One, emphasized the significance of investing in pivotal infrastructure such as AIBD, citing its role in fostering growth not only in tourism but also in other sectors, thereby facilitating intra-African trade.

Blaise Diagne International Airport currently manages over 90% of Senegal’s air traffic and aspires to evolve into a prominent air hub in West Africa by the year 2035.