The International Finance Corporation (IFC), part of the World Bank, is to finance the US$20 million expansion of the Punta Cana International Airport, the busiest in the Dominican Republic. The expansion work will include the construction of a new runway and roll out areas, giving the airport the capacity to receive larger aircraft, increase passenger numbers and service more European destinations, according to a press release from the Airport Corporation of the East (CAE).
The airport, built in 1984, received 3.2 million passengers during the first 10 months of the year, and served 43.2% of all passengers in the Dominican Republic. It primarily serves tourists flying into resorts in the Punta Cana tourist destination in the East Coast.
The IFC financing will be combined with a US$10 million loan from the Dominican Mortgage Bank (BHD), one of the four major financial institutions in the country.