AKIPRESS.COM - The EBRD is providing a 15-year, 8.5 billion tenge (€42.5 million) loan to JSC Astana International Airport (wholly owned by the railway operator KTZ) for the expansion and modernisation program.

The Development Bank of Kazakhstan is also supporting the project with a 20-year loan for the same amount.

The runway, taxi and apron areas will be modernised and new lighting and meteorological equipment will be purchased in order to double the capacity of the airport.

The project will bring the airport into compliance with UN civil aviation regulations in areas such as safety and standard of services.

Signing the loan agreement in Astana, ahead of a meeting of Kazakhstan’s Foreign Investors Council, EBRD President, Sir Suma Chakrabarti, said: “The Astana airport project is our first major investment in the airport sector in Kazakhstan, but for me what is most significant are the reforms that are built into the project. Since we entered an Enhanced Partnership Agreement with the government of Kazakhstan a year ago, we have been cooperating very closely on liberalising state-run and municipal services, and this project will demonstrate how public and private sectors can work together to benefit all.”