EAAIF commits EUR 40 million of sustainability-linked financing to support the upgrade and expansion of Cabo Verde’s national airport network
- Investment will finance development across seven airports, strengthening connectivity, tourism, and airport environmental objectives.
- Transaction reinforces EAAIF’s role in mobilising long-tenor, sustainability-linked capital for essential transport infrastructure in climate-vulnerable countries.
London, 27 January 2026: The Emerging Africa & Asia Infrastructure Fund (EAAIF), a Private Infrastructure Development Group (PIDG) company, managed by Ninety One, has committed EUR 40 million in sustainability-linked financing to Cabo Verde Airports to support the second phase of a landmark programme to expand, modernise, and decarbonise seven airports across Cabo Verde.
The financing will support Phase 1B of a 40-year concession awarded in 2023 to Cabo Verde Airports, and will fund critical capacity upgrades, runway extensions, terminal expansions, and environmental improvements across four international and three domestic airports. The programme is designed to accommodate sustained growth in passenger traffic while improving service quality and safety, in a country where air connectivity underpins economic development and tourism.
A modern, resilient, and well-functioning aviation infrastructure is critical to the resilience of climate-vulnerable Small Island Developing States. Sustainability measures embedded in the programme include on-site solar PV and battery storage, energy-efficient terminal upgrades, external shading to improve occupant comfort and reduce energy demand, water recycling and wastewater treatment facilities, improved surface water drainage systems, and commitments to reduce airport emissions by 30% by 2030, with a pathway consistent with Vinci Concessions objective to net zero by 2050.
Since the financial close of Phase 1A in 2023, traffic across the airport network has recovered ahead of expectations, exceeding pre-pandemic levels, supported by new routes and additional airlines. International traffic now accounts for approximately 80% of total passenger volumes, providing a resilient euro-denominated revenue base and underpinning the project’s robust financial profile.
The transaction aligns with EAAIF’s and PIDG’s mandate to support market-shaping, sustainability-linked financing structures that strengthen local infrastructure, crowd in private capital, and deliver inclusive growth. By improving connectivity across the archipelago, the programme supports tourism and trade, which are key drivers of employment and economic activity on the Islands.
Reaffirming the key role that gender and disability representation plays in this project, Vinci Airports, the parent company of the national airport network, has also committed to increasing the representation of women in managerial roles to 40% by the end of 2026, and will design the airports in line with the disability accessibility standards of ICAO (the International Civil Aviation Organization).
Thanzi Ramukosi, Investment Specialist, Ninety One, the fund manager of EAAIF, said: “EAAIF’s investment in Cabo Verde Airports reflects our commitment to financing essential transport infrastructure that supports inclusive growth while limiting increases in greenhouse gas emissions. The sustainability-linked facility advances a programme that improves air connectivity and resilience in a Small Island Developing State, where aviation is fundamental to economic activity and tourism.”