IFC Commits €200M to Antalya Airport Expansion, Boosting Türkiye’s Tourism

The investment supports a broader expansion project aimed at modernizing the airport’s infrastructure, increasing capacity, and ensuring environmental sustainability.

In a strategic move that further cements its support for Türkiye’s economic infrastructure and burgeoning tourism industry, the International Finance Corporation (IFC) has announced a new €200 million investment in the long-term refinancing of Antalya Airport, the country’s second-largest hub for international air traffic. The investment supports a broader expansion project aimed at modernizing the airport’s infrastructure, increasing capacity, and ensuring environmental sustainability.

This investment goes to Fraport TAV Antalya Yatirim Yapim ve Isletme, a joint venture between Germany’s Fraport AG and Türkiye’s TAV Airports Holding. The company operates and manages the airport terminals in Antalya, a prime destination along the Mediterranean that saw over 38 million passengers pass through its gates in 2024. The project is poised to generate considerable economic returns, adding an estimated $6.6 billion in value to Türkiye’s economy and creating approximately 93,000 direct and indirect jobs.

Long-Term Financing for Strategic Growth

IFC’s €200 million investment forms part of a broader €315 million financing package, which also includes an additional €115 million mobilized from private investors. This new funding structure aims to refinance existing short-term loans, establishing a more stable 13.5-year long-term financing arrangement. This shift to long-term capital is a crucial step in ensuring the sustainable growth of the airport’s infrastructure and operations.

This marks IFC’s third major financial commitment to Antalya Airport, following earlier rounds in 2023 and 2024. The ongoing partnership demonstrates IFC’s confidence in the airport’s strategic importance and the broader Turkish tourism sector’s resilience and potential for growth.

“Tourism continues to be a backbone of Türkiye’s economy,” noted Wiebke Schloemer, IFC Director for Türkiye and Central Asia. “This long-term financing is pivotal for the tourism sector, a major contributor to national economic growth and job creation. The modernization and expansion of Antalya Airport will allow it to serve more international travelers, stimulate the local economy, and elevate Türkiye’s position in the global tourism market.”

New Facilities Open as First Phase Concludes

The announcement of the refinancing coincides with the inauguration of the first phase of the airport’s expansion, which was officially opened on April 12. Key components of this phase include the enlargement of International Terminal 2 (T2), construction of new aviation and cargo terminals, additional apron space, parking areas, and upgrades to the domestic terminal.

The upgraded facilities are designed to accommodate increased passenger volumes while improving service quality and operational efficiency. Antalya Airport is seen as the gateway to the Turkish Riviera, a region known for its resorts, beaches, and cultural heritage. With this expansion, the airport is better positioned to handle growing international demand, especially from European and Middle Eastern tourists.

Commitment to Sustainability and Climate Resilience

Sustainability is a central pillar of this project. The airport has incorporated measures to address climate-related risks, such as heatwaves, water scarcity, and extreme weather. These measures align with IFC’s global climate goals and underscore a shared commitment to developing climate-resilient infrastructure in emerging markets.

Michael Reusch, a board member of Fraport TAV nominated by Fraport AG, highlighted the strategic significance of the project: “Partnering with IFC on this refinancing initiative is pivotal for strengthening Antalya Airport's financial foundation and supporting its growth as a key gateway to the Turkish Riviera. This collaboration underscores our commitment to sustainable development in Türkiye's aviation sector, paving the way for enhanced infrastructure and workforce opportunities.”

Burcu Geriş, Deputy CEO and CFO of TAV Airports, added: “We are proud to partner with IFC and successfully conclude the long-term financing of Antalya Airport project. This investment comes at a symbolic time with the opening of new facilities, showcasing trust in our track record and the strength of Türkiye’s tourism economy.”

IFC's Deepening Role in Türkiye

As of April 2025, Türkiye ranks as IFC’s third-largest country of exposure globally, with a committed investment portfolio totaling approximately $5.5 billion. The Antalya Airport investment aligns with IFC’s broader mission to support private sector-led infrastructure development that promotes economic growth, job creation, and sustainable environmental practices.

With tourism accounting for around 12% of Türkiye’s GDP and 10% of national employment, strategic projects like Antalya Airport’s expansion are vital. They not only accommodate the growing influx of international visitors but also reinforce the economic ecosystems of entire regions.

As Türkiye eyes continued recovery and expansion in its tourism and aviation sectors, this landmark investment is a strong signal of confidence from global investors and a beacon for future public-private collaboration.