BAKU, Azerbaijan, September 28. The Turkic
Investment Fund (TIF) has joined the internationally mobilized
financing of Almaty International Airport in Kazakhstan.
This was announced in a statement published by the TIF.
"TIF commits up to $20 million as part of a $670 million
financing arranged by Bank of America (BofA) to support the
modernization of Central Asia's busiest airport", the Fund
said.
According to the Fund, as Central Asia's busiest airport, Almaty
International Airport serves as a critical gateway connecting the
region to global markets. The airport handles approximately
two-thirds of Kazakhstan's air cargo and serves as the home base of
Air Astana. Located on the Trans-Caspian International Transport
Route (Middle Corridor) linking China and Europe, the airport plays
a strategic role in facilitating regional trade, strengthening
supply chains, and enhancing connectivity across Eurasia.
TIF's commitment will support the airport's capital investment
programme, runway and airside infrastructure, cargo capacity,
operational resilience, and environmental performance.
The airport serves more than 11 million passengers annually and
is expected to significantly expand its passenger and cargo
handling capacity upon completion of the investment.
The airport is operated by TAV Airports based in Türkiye. The
initiative reflects the growing economic partnership between
Kazakhstan and Türkiye, two founding Member States of TIF,
according to the Fund.
The Fund noted that the transaction marks two institutional
milestones for TIF: its first transport infrastructure investment
and its first participation in a major internationally syndicated
loan. It delivers directly on the Fund's mandate, helping address
the region's infrastructure gap, strengthening connectivity and
trade, and deepening economic integration among Member States, with
measurable development impact alongside financial sustainability.
The financing is implemented in line with applicable international
environmental and social standards.
"Infrastructure is the backbone of regional integration. By
participating in this financing, TIF is investing in stronger
connectivity, more resilient trade corridors, and sustainable
economic growth across the Turkic world.
As our first transport infrastructure investment and first
participation in internationally syndicated financing, this
transaction represents an important milestone in demonstrating how
TIF can mobilize long-term capital alongside leading global
financial institutions for projects of regional significance. We
hope this transaction will pave the way for many more strategic
partnerships that contribute to the prosperity and economic
integration of our Member States," Ramil Babayev, General Director,
Turkic Investment Fund, said.
The Turkic Investment Fund is the first joint international
financial institution established within the framework of the
Organization of Turkic States (OTS) to promote economic development
and integration among the countries of the Turkic world -
Azerbaijan, Hungary, Kazakhstan, Kyrgyzstan, Türkiye and
Uzbekistan.
