Almaty Airport secures $670M loan for infrastructure expansion

Photo: TAV Airports

Almaty International Airport (ALA), the busiest aviation hub in Kazakhstan and Central Asia, has secured a $670 million credit facility from a syndicate of lenders led by Bank of America. The transaction was confirmed by syndicate member Eurasian Development Bank (EDB), which is committing $100 million to the facility.

The syndicate also includes Merrill Lynch International, Société Générale, the Turkic Investment Fund, and some Kazakh commercial banks. The financing matures in 2033.

The capital raise comes amid an extensive modernization push at the airport. Operator TAV Airports had previously outlined plans to invest $362 million into the hub’s development over the 2025–2029 period.

According to the EDB, the proceeds will fund the overhaul of the domestic passenger terminal, upgrades to airfield infrastructure, dedicated aircraft de-icing facilities, and the expansion of the cargo terminal.

Almaty International Airport handled 12 million passengers in 2025. According to TAV Airports, the passenger volume reached 8.3 million people during the first eight months of this year, representing a 4% year-over-year increase.