Wed | Jan 23, 2019

Scotiabank proud to facilitate airport upgrade

Published:Friday | January 12, 2018 | 11:04 PM

Scotiabank has signed a loan agreement of J$5 billion with MBJ Airports Limited for the expansion of the Sangster International Airport in Montego Bay, a deal the bank is proud of.

President and chief executive officer of Scotia Group, David Noel, signed the loan agreement with Dr Rafael Echevarne, chief executive officer MBJ Airports Limited. The signing took place at the Government of Jamaica VIP Lounge at the Airport on Tuesday.

The seven-year loan will be used to resurface the taxiways and aprons, complete renovation of the ticketing area to include new air conditioning system and renovation of the restrooms in the ticketing and departures areas, and a number of other projects.

According to Echevarne, following a record-breaking 2017 when the airport for the first time surpassed the four million passenger mark, exceptional numbers are expected for 2018.

"We are pleased to partner with Scotiabank on this financing agreement which will be dedicated to key infrastructure projects. This agreement is a symbolic milestone in the development of the Sangster International Airport as we continue to transform the airport into a world-class facility. There is much to accomplish in 2018 and we would like to thank Scotiabank for their support and for partnering with us on this initiative," Echevarne said.

According to the Scotiabank president, the organisation was pleased to partner with MBJ Airports Limited by financing the improvements to the airport.

"The MBJ Airport is the main gateway for our guests, and their experience at the airport is the first and last impression that they have of Jamaica and sets the tone for their visit. Scotiabank is proud to be a part of project that will develop our tourism infrastructure and facilitate economic growth," Noel said.