ALMATY (Reuters) -A consortium led by Turkey's TAV Airports has raised $450 million in loans to finance upgrades on the airport of Almaty, Kazakhstan's largest metropolis, the European Bank for Reconstruction and Development has mentioned.
The EBRD and the International Finance Corporation, an arm of the World Bank, have contributed $150 million every in the direction of the mission's $780 million complete prices, the financial institution mentioned in a press release late on Monday.
The EBRD and IFC are additionally mobilising equal parallel loans totalling $150 million from the Eurasian Development Bank and German improvement finance establishment DEG.
TAV Airports took over the Almaty airport this yr, saying it will double its capability.
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