Riga Airport Board Meets with EBRD Vice President

On 4 June, the Board of RIX Riga Airport met with Matteo Patrone, Vice President of the European Bank for Reconstruction and Development (EBRD), to discuss the bank’s involvement in financing the Riga Airport’s passenger terminal expansion project.

The EBRD Board of Directors has approved up to EUR 75 million for the project, and today’s meeting focused on the project’s progress and the next steps leading up to the signing of the financing agreement. The loan agreement with the EBRD is expected to be signed shortly.

During the meeting, the Board also presented the Riga Airport’s sustainability strategy. Both parties reaffirmed their shared commitment to environmental goals, sustainability, and energy efficiency—core principles that align with Latvian and European Union climate objectives. They also emphasized the importance of setting new standards for environmentally responsible infrastructure in the transport sector.

“We are pleased that an international financial institution of EBRD’s calibre has expressed readiness to cooperate with Riga Airport. This demonstrates clear confidence in our corporate responsibility and financial stability,” said the Chairperson of the Board of RIX Riga Airport Laila Odiņa during the meeting. “The Airport expansion is among the most significant infrastructure projects in modern Latvian history. It will impact not only aviation but also tourism, trade, and technology, serving as a cornerstone for growth, sustainability, and the country’s global competitiveness. This strategic project will strengthen Latvia’s long-term economic resilience and international connectivity, shaping its economic and social future. Moreover, developing a new terminal allows us to adopt cutting-edge technologies and infrastructure to enhance the passenger experience in line with future needs. We have the potential to become a catalyst for innovation and growth across multiple sectors.”

The international construction tender, currently in its final stage with two remaining bidders, is expected to conclude this summer. It is being conducted in line with EBRD procurement procedures. A FIDIC Yellow Book contract, issued by the International Federation of Consulting Engineers, will be signed with the selected contractor. The project aims to achieve a BREEAM Excellent sustainability certification.

In addition to the EBRD, Riga Airport has received binding financing offers from the Nordic Investment Bank and the OP Corporate Bank plc Latvian branch.

The planned expansion will add approximately 45,000 square metres of terminal space. Throughout the construction period, the Airport will continue to operate at full capacity. Construction is scheduled to begin in the second half of 2025, with completion and commissioning planned for 2029.