The European Bank for Reconstruction and Development (EBRD) has arranged a senior loan of US$150 million for the development of key infrastructure at Almaty International Airport, Kazakhstan.
The financing will be provided to a consortium of investors led by TAV Airports. The loan will be used in the construction of a new passenger terminal as well as refinancing of the acquisition of the airport and the associated fuel business entity Venus Trading LLP (VT) by a TAV Airports consortium.
The financing contributes to the total cost of the investment program of US$780 million. The International Finance Corporation (IFC) also provides a US$150 million loan of a similar size and structure. The EBRD and the IFC are jointly mobilizing equal parallel loans by the Eurasian Development Bank (EDB) and DEG, the German development finance institution, in the total amount of US$78 million.