ALMATY, Kazakhstan, December 5. Eurasian Development Bank (EDB) and Eurasian Logistics Park Limited Liability Partnership signed a loan agreement on the project of construction of an industrial and logistics complex of class A in the Almaty region of the Republic of Kazakhstan, Trend reports.
According to the information, the amount of the loan is 16.6 billion tenge ($31.6 million).
On the eve of the Second EDB conference for international financial organizations, we signed the agreement in Almaty.
Sergey Ignatov, Senior Managing Director of the Bank, and Adam Mestoev, Director of Eurasian Logistics Park LLP, signed the loan agreement on behalf of the borrower.
The project involves the construction of two modern warehouse buildings with a total area of 50,000 square meters near the Big Almaty Ring Road (BAKAD). Commissioning of the complex is scheduled for the end of 2025. The total cost of the project will amount to 22.1 billion tenge ($42.1 million).
“The project of building a Class A logistics center in Kazakhstan reflects our bank's strategy to develop key Eurasian infrastructure. In addition to strengthening the logistics distribution capabilities of consumer goods in Almaty, the logistics center under construction has the potential to become a major hub. This will be an important step toward increasing trade volumes, optimizing supply chains, and building a unified economic space, given that the EDB estimates that all modern trade formats are expected to grow significantly in the region, with online commerce expected to grow at an annual rate of 12 percent by 2028, with a total of 91.4 million users. Participation in this project strengthens the EDB's position as a reliable partner contributing to economic growth and sustainable development of the entire region,” EDB's Chairman of the Board Nikolay Podguzov noted.
The warehouse logistics sector in the post-pandemic period demonstrates rapid growth worldwide. According to forecasts, by 2025, inclusive in the Eurasian region, demand for quality warehousing facilities may exceed 1 million square meters, with Kazakhstan accounting for about 40 percent of the volume. The construction of logistics centers both at the border and in major cities will help reduce costs and improve the efficiency of supply chains.
The EDB already has significant experience in supporting transportation and logistics projects. The bank actively promotes initiatives that contribute to economic growth and integration among member countries by providing financing for infrastructure construction.
To note, the Eurasian Development Bank is an international development finance agency that invests in the economic development, commercial relations, and integration of Eurasian countries. The EDB was established in 2006 and is based in Almaty, Kazakhstan.
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