Turkic Investment Fund commits up to $20 million to modernize Almaty airport

The Turkic Investment Fund will contribute up to $20 million to the $670 million financing arranged by Bank of America for the modernization of Almaty International Airport. The investment is expected to increase passenger and cargo capacity at the airport, which serves more than 11 million passengers annually.

Scraper SystemSeptember 28, 2026, 06:28 PM

Turkic Investment Fund commits up to $20 million to modernize Almaty airport

The Turkic Investment Fund (TIF) has committed up to $20 million to support the modernization of Almaty International Airport in Kazakhstan.

Almaty International Airport Terminal 2

The commitment will be provided as part of the $670 million financing arranged by Bank of America. The loan facility will support the airport's capital investment program, infrastructure, cargo capacity, operational resilience and environmental performance.

Almaty airport's regional role

Almaty International Airport, the busiest airport in Central Asia, operates as a key transportation hub connecting the region to global markets. Handling approximately two-thirds of Kazakhstan's air cargo, the airport is the main base of Air Astana.

The airport is located on the Trans-Caspian International Transport Route, also known as the Middle Corridor, which connects China and Europe. This location gives the airport a strategic role in facilitating regional trade, strengthening supply chains and expanding connectivity across Eurasia.

The investment is expected to significantly increase passenger and cargo capacity at the airport, which serves more than 11 million passengers annually. The airport is operated by Türkiye-based TAV Airports.

TIF's first transport infrastructure investment

TIF Director General Ramil Babayev said infrastructure was one of the fundamental elements of regional integration. Babayev said the participation in the financing would contribute to the goals of stronger connectivity across the Turkic world, more resilient trade corridors and sustainable economic growth.

Babayev said the transaction was TIF's first transport infrastructure investment and its first participation in international syndicated financing. He said the transaction demonstrated that long-term capital could be mobilized in cooperation with global financial institutions for projects of regional importance.

The Almaty airport investment points to the developing economic partnership between Kazakhstan and Türkiye, both founding members of TIF. Babayev expressed hope that the transaction would lay the groundwork for new strategic partnerships that would contribute to the prosperity and economic integration of member countries.

Turkic Investment Fund commits up to $20 million to modernize Almaty airport