Almaty Airport is entering another expansion phase. A $670 million financing package will fund upgrades to the domestic terminal, airside facilities, cargo infrastructure and aircraft de-icing systems at Central Asia’s largest aviation hub, DKNews.kz reports.
The Eurasian Development Bank (EDB) is participating as a senior co-lender with a $100 million contribution. The financing is being provided by a syndicate arranged by Bank of America and has a final maturity in 2033.
$670 Million Will Go Beyond Passenger Terminals
The new financing comes after Almaty International Airport handled 12 million passengers in 2025. The airport now serves more than 32,000 passengers a day, according to the EDB.
The capital investment programme targets several parts of the airport at once:
- modernization of the domestic terminal;
- improvements to airside infrastructure;
- development of aircraft de-icing facilities;
- expansion of the cargo terminal;
- improved links between the international and domestic terminals;
- faster baggage handling;
- more efficient apron operations;
- expansion of parking facilities.
The focus is therefore shifting from simply adding terminal capacity to improving how the entire airport operates — from aircraft movements and baggage handling to cargo and passenger access.
Airport Capacity Has Already Risen From 3 Million to 14 Million
The new financing builds on an earlier modernization programme backed by international financial institutions.
In 2021, the EDB, DEG, EBRD and IFC financed the expansion and modernization of Almaty International Airport. That programme included construction of a new international terminal, which was commissioned in 2024.
The project increased the airport’s annual design capacity from 3 million to 14 million passengers.
The EDB said the previous phase was implemented through a syndicate of development institutions, while the latest financing brings commercial lenders into the next stage of the airport’s development. The Bank of America-arranged package also includes Merrill Lynch International, Société Générale, the Turkic Investment Fund and Kazakh banks.
EDB Is Providing $100 Million
The EDB’s share of the new $670 million package amounts to $100 million.
Nikolai Podguzov, Chairman of the Management Board of the Eurasian Development Bank, said the broader lender group demonstrates international financial institutions’ interest in Kazakhstan’s infrastructure assets.
«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. Our extensive experience in syndicated financing enables us to work effectively with international and local financial institutions. We welcome the participation of Merrill Lynch International, Société Générale, the Turkic Investment Fund and Kazakhstan banks, and remain open to new joint projects. The broader group of participating lenders underscores confidence in Kazakhstan’s infrastructure assets and creates additional opportunities to attract international capital to major projects in the country», — Podguzov said.
For Kazakhstan, the structure of the deal is significant because the next stage of airport modernization is bringing together a multilateral development bank, major international commercial lenders and domestic banks within a single financing package.
Cargo and Airside Infrastructure Move Into Focus
Passenger capacity was the defining feature of the previous expansion. The next phase puts greater emphasis on the infrastructure behind airport operations.
The cargo terminal is set to expand, while improvements to apron and airside infrastructure are expected to increase operational efficiency and capacity. Dedicated aircraft de-icing facilities are also included in the investment programme.
For passengers, the most visible changes should come from better connectivity between the international and domestic terminals, faster baggage handling and expanded parking.
These projects follow infrastructure work already underway at the airport. DKNews previously reported on the reconstruction of the domestic terminal, baggage-system upgrades, a new taxiway and the development of a dedicated de-icing facility.
The earlier international terminal project also shows the scale of Almaty Airport’s investment cycle. In 2024, the EDB said the new 53,500-square-metre international terminal could handle total annual passenger traffic of 14 million people.
With 12 million passengers already recorded in 2025, the airport is operating at a traffic level equivalent to roughly 86% of that stated annual design capacity. The $670 million package therefore arrives as passenger volumes move closer to the capacity created by the previous expansion.
We previously covered how Almaty Airport’s next modernization stage is changing not only its terminals but also baggage, aircraft and cargo infrastructure. Read more about the airport’s ongoing expansion and infrastructure upgrades.
