The Japan Bank for International Cooperation signed an ODA loan agreement totalling 19,092 million yen with the Government of Ukraine, for the Boryspil State International Airport Development Project. This is the first ODA loan that JBIC has extended to Ukraine.The project seeks to build an international airport terminal with the capacity to handle 1.85 million air passengers annually, it will be constructed at the Boryspil State International Airport. The project aims to meet the growing air transport demand, in line with the Ukrainian government’s policy “State Comprehensive Program of Development of Air Transport of Ukraine up to 2010.” This plan aims to recover the air transport industry from its past stagnation and will also help to revitalize the country’s social and economic activities by promoting foreign direct investment and tourism into the Ukraine.
Situated in the capital Kiev, Ukraine’s political and economic hub, with a population of 2.6 million, Boryspil State International Airport is the country’s largest international airport. The volume of air travellers that it handles has significantly increased over the 1998-2004 period, an average annual growth of 15.7%. This increase reflects the eastward enlargement of the EU, as well as the quick recovery of the Ukrainian economy. The expansion of the international passenger terminal is urgently needed in order to meet the countries growing demand in the coming years.