IFC invested in Fraport TAV Antalya Yatirim Yapim ve Isletme A.S. (FTA), a Turkish joint-stock company owned by TAV Havalimanlari Holding Anonim Sikerti (TAV Airports) and Fraport AG Frankfurt Airport Services Worldwide (Fraport) through a long-term finance facility (LTF) and a B loan, forming a part of a broader financing package. The purpose of the LTF was to refinance FTA’s existing bridge loan which was raised to fund the CAPEX expansion program of Antalya Airport (AYT).

The CAPEX expansion program encompasses extensive airside and terminal construction works, including the expansion of International Terminal 2, expansion of Domestic Terminal 4, additional apron space and taxiways and associated infrastructure works. Under a 25-year lease agreement with the General Directorate of State Airports Authority (DHMI), FTA will assume responsibility for terminal operations at AYT in January 2027 while airside management and air traffic control will continue to be operated by DHMI.

In January 2026, CAO received a complaint regarding IFC’s investment in the project. The complaint alleged that the expansion of AYT resulted in the compulsory expropriation of their land and property without genuine prior consultation and the compensation given to him did not reflect the replacement cost and has since been substantially eroded in real terms. The complaint also alleged the absence of a functioning and accessible grievance mechanism to seek redress and raised concerns regarding coercive practices aimed at project-affected residents.

In March 2026, CAO found the complaint eligible and initiated an assessment.