The Eurasian Development Bank (EDB) has committed to financing the construction of a state-of-the-art industrial and logistics complex in Kazakhstan's Almaty region. The project, spearheaded by Eurasian Logistics Park, aims to bolster the country’s logistics infrastructure, with the EDB providing a loan of KZT 16.6bn ($31.6mn).
The loan agreement was formalized in Almaty on the eve of the EDB's Second Conference for International Financial Institutions and International Organizations. Sergey Ignatov, EDB's Senior Managing Director, and Adam Mestoev, CEO of Eurasian Logistics Park, signed the agreement.
The logistics complex will include two Class A warehouse buildings with a combined area of 50,000 square meters, strategically located near the Big Almaty Ring Road (BAKAD). Scheduled for completion by the end of 2025, the total cost of the project is estimated at KZT 22.1bn ($42mn).
“The construction of a Class A logistics center in Kazakhstan aligns with our strategy for developing key infrastructure in Eurasia. It has the potential to become a major hub, strengthening trade, optimizing supply chains, and fostering economic integration. By 2028, online trade in the region is expected to grow annually by 12%, with 91.4mn users projected," Nikolai Podguzov, Chairman of the EDB Management Board, voiced.
The demand for high-quality storage facilities is surging across Eurasia, driven by the rapid expansion of the logistics sector post-pandemic. Forecasts suggest that by 2025, the region will require over 1mn square meters of storage space, with Kazakhstan expected to account for 40% of this demand.
The planned logistics center in Almaty is poised to play a pivotal role in reducing supply chain costs and enhancing efficiency, further integrating Kazakhstan into regional and global trade networks.
The EDB has a proven track record in supporting transport and logistics projects, contributing to economic growth and fostering sustainable development across Eurasia. The Bank’s investments prioritize projects with strong integration potential in areas like transport infrastructure, green energy, and digital systems.
The Eurasian Development Bank, established over 18 years ago, is a multilateral financial institution focused on strengthening economic ties and fostering development among its member countries. With a charter capital of $7bn, the Bank’s portfolio prioritizes projects aligned with the UN Sustainable Development Goals and ESG principles.
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