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.
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.
