28.09.2026
The Turkic Investment Fund (TIF) will provide up to $20 million in financing for the modernization of Almaty International Airport in Kazakhstan. The financing will be provided as part of an international financing package totaling $670 million, organized by Bank of America. The financing agreement was announced in Istanbul on September 28.
The funds provided by the TIF will be used to finance the renovation of the airport runway and airport complex, expansion of cargo terminals, improvement of operational efficiency, and enhancement of environmental performance. Upon completion of the investment program, Almaty Airport’s passenger and cargo capacity is expected to increase. TAV Airports’ Investments Reach €572 Million
Almaty Airport, Kazakhstan’s largest aviation hub and one of Central Asia’s key transportation gateways, has been operated by Türkiye-based TAV Airports since 2021. TAV Airports is continuing the second phase of its €315 million investment program covering the 2025–2027 period. Including previously completed and ongoing projects, the company’s total investment in Almaty Airport has reached €572 million.
TIF’s First Investment in the Transport Sector
According to the TIF, its participation in the financing of Almaty Airport marks the Fund’s first investment in transport infrastructure. The project also represents the TIF’s first participation in a large-scale international syndicated financing.
TIF Director Ramil Babayev stated that infrastructure is one of the key elements of regional integration, saying, “Through its participation in this financing, the Turkic Investment Fund is contributing to strengthening connectivity, developing sustainable trade corridors, and promoting sustainable economic growth across the Turkic world.”
The Fund aims to attract long-term capital for infrastructure projects of regional importance in cooperation with international financial institutions. The financing will be provided in accordance with international environmental and social standards.
Kyrgyzstan Among TIF’s Participating Countries
The Turkic Investment Fund continues its activities as an international financial institution focused on financing projects in Turkic states. The Fund’s current participating countries are Azerbaijan, Hungary, Kazakhstan, Kyrgyzstan, Türkiye, and Uzbekistan. The Fund has total capital of $600 million, with each country contributing $100 million. Kyrgyzstan approved the agreement establishing the Turkic Investment Fund in January 2024.
https://economist.kg/transport/2026/09/28/tyurkskiy-investfond-aeroport-almaty/
