The European Investment Bank (EIB) has granted a loan of €350 million to Dublin Airport in Ireland, according to the Irish Times.
Payable over 20 years, the loan will improve passenger services, facilities and capacity. It is the largest transport infrastructure loan ever given to the country.
Irish Prime Minister Leo Varadkar, said, “As an island nation Ireland depends on aviation for international connectivity. Without it we’d be poor and isolated.
“This investment will improve the airport experience for passengers by reducing delays, improving security and providing for some climate-related mitigation by electrifying the airport vehicle fleet.”
In addition to upgrading the airport’s baggage screening system and vehicle fleet to electric, improvements to the airport’s runways and self-service check-in kiosks are also planned.
The news outlet reports that the Irish leader will meet with EIB president Werner Hoyer and senior EIB staff to discuss future loan opportunities, when he visits Luxembourg next week.