The EDB’s financing of Almaty International Airport upgrade and expansion wins the DFI Deal of the Year
Nur-Sultan, 15 August 2022. The Eurasian Development Bank’s (EDB) project to finance the expansion and modernisation of Almaty International Airport has won the 2021 DFI Deal of the Year by IJGlobal Awards.
In September 2021, the EDB joined a syndicate of lenders to finance the upgrade and expansion of Almaty International Airport, with a contribution of US $40 million. The project is being implemented by a consortium of investors led by TAV Airports.
Almaty International Airport is Kazakhstan’s largest air hub servicing many international flights. The plan for the development of its key infrastructure envisages an upgrade of the existing facilities and the construction of a new terminal in order to increase the airport’s passenger handling capacity and the number of flights, add new routes, and improve customer experience. All these developments are expected to make Almaty International Airport one of Central Asia’s largest air hubs.
“The award once again emphasises the importance of such projects. Developing Almaty Airport is a strategic objective for the city, the country’s aviation industry, and the entire Central Asian region. Increased transit capacity, improved logistics, and expanded routes will help to develop the Eurasian transport framework and foster sustainable economic growth in the country. In addition, the project will have a high social effect as it will create jobs,” said Ruslan Dalenov, Vice Chairman of the EDB Management Board.
The prime objective of the EDB as an international development institution is to ensure stable economic growth in its member states in order to promote better living standards and to improve the environment and use of natural resources. The new terminal will be the first airport in Central Asia to be certified under the Excellence in Design for Greater Efficiencies (EDGE) programme. It will be built to EDGE standards for resource efficiency by using high-quality insulation materials, water-conserving equipment and advanced technology to reduce greenhouse gas emissions and noise, light, waste and air pollution in line with International Civil Aviation Organisation recommendations.
The project also demonstrates the benefits of partnership between international development banks in the EAEU. The syndicate of lenders includes the EDB, the Eurasian Bank for Reconstruction and Development (EBRD), the International Finance Corporation (IFC), and the German Investment Corporation (DEG).
The IJGlobal Awards, one of the most prestigious international awards in project finance, give recognition to the financing of critical infrastructure and energy projects in the Asia-Pacific region.
Additional Information:
The Eurasian Development Bank (EDB) is an international financial institution investing in Eurasia. For 15 years, the Bank has worked to strengthen and expand economic ties and foster comprehensive development in its member countries. The EDB's charter capital totals US $7 billion. Its portfolio mainly consists of projects with an integration effect in transport infrastructure, digital systems, green energy, agriculture, manufacturing, and mechanical engineering. The Bank’s operations are guided by the UN Sustainable Development Goals and ESG principles.
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