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TAV Airports-led consortium raises $300 million in loans for Almaty airport By Reuters

by Mike Robinson

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© Reuters.

ALMATY, Reuters – The European Bank for Reconstruction and Development announced that a consortium headed by Turkey’s TAV Airports raised $300 million to fund upgrades at Almaty’s airport.

According to the World Bank’s arm, the EBRD and International Finance Corporation contributed 150 million dollars each toward the total project costs of $780 millions.

The EBRD, IFC and Eurasian Development Bank are both requesting parallel loans of $78 million each from IFC and DEG.

TAV Airports, which claimed to have doubled the airport’s capacity, took control of Almaty Airport this year.

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