Brazilian Development Bank (BNDES) and Banco do Nordeste do Brasil (BNB) have approved a USD371.4 million project financing for the modernization and expansion of six airports in northeast Brazil.

The Northeast Block covers the airports of Recife (PE), Maceió (AL), João Pessoa (PB), Campina Grande (PB), Aracaju (SE) and Juazeiro do Norte (CE), representing about 7% of the passenger volume national airports and covers five states in the region. 

The six airports are operated by the Spanish group Aena Desarrollo Internacional since 2020. The non-recourse loan will allow for an estimated 50% increase in airport capacity, as well as the creation of 4 thousand jobs during construction. BNDES will contribute BRL1 billion (USD206.3 million) and BNB will provide BRL790 million (USD163.1 million). BNDES will also offer bank guarantees with a value of BRL395 million (USD81.5 million), corresponding to 50% of the credit approved by BNB.