The Eurasian Development Bank (EDB) will provide $100mn as part of a $670mn financing package arranged by Bank of America to fund the further development of Almaty International Airport, the multilateral lender said on September 29.

The EDB is participating as a senior co-lender in the syndicated financing, alongside international and Kazakh banks. The package will support the airport's capital investment programme, including upgrades to its domestic terminal, airside infrastructure and aircraft de-icing facilities, as well as an expansion of the cargo terminal.

The investment is also intended to improve links between the airport's international and domestic terminals, accelerate baggage handling and make apron operations more efficient. Additional parking capacity will improve access to the airport, the EDB said.

Almaty airport is Kazakhstan's largest airport by passenger and cargo traffic and serves more than 32,000 passengers a day. Passenger traffic reached 12mn in 2025.

“We have consistently supported the development of Almaty Airport and are pleased to continue this work as part of the new Bank of America syndicate,” EDB chairman Nikolai Podguzov said.

The deal includes participation from Merrill Lynch International, Société Générale, the Turkic Investment Fund and Kazakh banks. Podguzov commented that the wider lender group demonstrated confidence in Kazakhstan's infrastructure assets and could help attract further international capital.

The latest financing has a final maturity in 2033. TAV Airports, whose majority shareholder is France-based Groupe ADP, completed its acquisition of Almaty International Airport in July.

The EDB is expanding its role in Central Asia as economic growth, infrastructure gaps and changing global trade routes drive demand for investment, Podguzov told IntelliNews in a recent interview.

The bank, which marks its 20th anniversary this year, had a cumulative portfolio of 348 projects worth $22.1bn by mid-2026. Uzbekistan became its seventh member state in 2025.

The airport financing follows a 2021 project backed by the EDB, German Investment and Development Corporation (DEG), European Bank for Reconstruction and Development (EBRD) and International Finance Corp. (IFC) to expand and modernise the facility. A new international terminal opened in 2024, lifting annual design capacity from 3mn to 14mn passengers.