The European Investment Bank (EIB) has offered a €400M loan to Fraport, Germany’s Frankfurt Airport operator, for the new Terminal 3 project.

The funding will be used for the first phase of construction of the new €3bn terminal, expected to open in 2023. It will enable Frankfurt Airport to handle up to 14M additional passengers a year.

Matthias Zieschang, Fraport chief financial officer, said: “With Terminal 3, we will set new standards at Frankfurt airport in terms of quality of stay, customer-oriented services and handling excellence.

“As a result, we will be able to offer our passengers and the export-focused German economy first-class services and state-of-the-art infrastructure, so that Frankfurt will remain the door to the world in the future.”

The latest move builds on EIB and Fraport’s long-standing cooperation. Since the 1990s, EIB has provided over €900M worth of loans to support the airport’s expansion.

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