Almaty:The Turkic Investment Fund (TIF) has pledged up to USD 20 million as part of a USD 670 million financing package organized by Bank of America to modernize Almaty International Airport in Kazakhstan.

According to Azerbaijan State News Agency, the TIF's commitment is part of a senior facility arranged by Bank of America to bolster the airport's capital investment program. This program aims to enhance the airport's runway and airside infrastructure, increase cargo capacity, improve operational resilience, and boost environmental performance.

As Central Asia's busiest airport, Almaty International Airport is a vital hub, connecting the region to global markets. It manages roughly two-thirds of Kazakhstan's air cargo and is the home base for Air Astana. Situated on the Trans-Caspian International Transport Route, which links China and Europe, the airport plays a crucial role in promoting regional trade and strengthening supply chains across Eurasia.

Currently serving over 11 million passengers annually, the airport is anticipated to significantly increase its passenger and cargo handling capacity once the investment is completed.