The EDB to Invest in the Construction of a Modern Logistics Complex in Kazakhstan
Almaty, December 5, 2024. The Eurasian Development Bank (EDB) and Eurasian Logistics Park LLP have signed a loan agreement for the construction of a Class A industrial and logistics complex in the Almaty region of the Republic of Kazakhstan. The loan amounts to 16.6 bln tenge.
The agreement was signed in Almaty on the eve of the EDB's Second Conference for International Financial Institutions and International Organisations. Sergey Ignatov, EDB's Senior Managing Director, and Adam Mestoev, CEO of Eurasian Logistics Park LLP, were the official signatories to the loan agreement.
The project provides for the construction of two modern warehouse buildings with a total area of 50 thousand square meters to be located by the Big Almaty Ring Road (BAKAD). The complex is scheduled to be commissioned by the end of 2025. The total cost of the project will amount to 22.1 bn tenge.
"The construction of a Class A logistics center in Kazakhstan is the project that reflects our bank's strategy for the key infrastructure development in Eurasia. In addition to strengthening the logistics capabilities for consumer goods distribution in Almaty, the logistics center under construction has the potential to become a major hub, which will be an important step towards increasing trade volume, optimizing supply chains, and building a single economic space, given that, according to EDB’sestimates, all modern trade formats are expected to grow significantly in the region. Moreover, by 2028, the annual growth of online trade is to amount to 12% with a total number of 91.4 million users. Participation in this project strengthens the EDB's position as a reliable partner contributing to economic growth and sustainable development of the entire region," said Nikolai Podguzov, Chairman of the EDB Management Board.
Over the post-pandemic period, the warehouse logistics sector has been rapidly growing worldwide. According to forecasts, by and including the year of 2025, the demand for high-quality storage facilities in Eurasia may exceed 1 million square meters, and about 40 percent of them will be located in Kazakhstan. The construction of logistics centers both on the border and in large cities will help reduce costs and increase the efficiency of supply chains.
The EDB has significant experience in supporting projects in the field of transport and logistics. The Bank actively supports initiatives that promote economic growth and integration of the member countries by financing the construction of infrastructure facilities.
Read more about the trends in the development of logistics infrastructure in the EDB Report "Infrastructure of Eurasia: Short-Term and Medium-Term Trends".
Additional Information:
The Eurasian Development Bank (EDB) is a multilateral development bank investing in Eurasia. For more than 18 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 $7 bln. Its portfolio consists principally 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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