February 28, 2018 / 11:52 AM / 3 months ago

Iceland borrows $124 mln from European Investment Bank for airport investments

COPENHAGEN, Feb 28 (Reuters) - Isavia, the state-owned company that operates all airports in Iceland, has secured a 12.5 billion Icelandic crowns ($124 million) loan from the European Investment Bank (EIB), the bank said on Wednesday.

“The funds will be used to renovate existing infrastructure in addition to making capacity investments at Keflavik International Airport, in order to respond to substantial passenger growth,” it said in a statement.

The agreement that was signed on Wednesday closes Isavia’s funding needs for 2018, it said.

$1 = 101.1400 Icelandic Crowns Reporting by Teis Jensen Editing by Mark Potter

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