Manas Airport in Kyrgyz Republic to be modernised with EBRD financing
The EBRD is providing loan and grant financing to Manas Airport, the main air gateway in the Kyrgyz Republic, for the modernisation of the terminal building.
The airport operating company, MIA (International Airport Manas), will receive a loan of US$ 4.7 million and an investment grant of US$ 500,000 to address the growing demand for good quality airport services in the Kyrgyz Republic, and will assist the installation of a ventilation and heating system, which complies with international best practice and energy efficiency standards.
The loan and grant agreements were signed on May 25th, at the EBRD Headquarters in London, by Natalia Khanjenkova, EBRD Managing Director, Central Asia and Russia and Emir Chukuev, Chairman of the Board of JSC Manas International Airport.
Manas, the main airport in the Kyrgyz Republic, serves the capital Bishkek and is used by some international airlines as a transit airport.
Natalia Khanjenkova said: We are very pleased to support this project, because it signals the start of cooperation between Manas and the EBRD. Regional connectivity, including modernisation of regional airports, is an important part of the Banks transport strategy as well as the overall transition agenda.
The project will also be the first time in the Kyrgyz Republic that a majority state-owned enterprise borrows funds without a sovereign guarantee.
Emir Chukuev said: Development of airport infrastructure is one of the key strategic priorities in Kyrgyzstan. We believe cooperation with such a reputable international financial institution as the EBRD will facilitate Manass rapid growth and lay the foundation for future partnership.
In addition, the EBRD will provide technical assistance to the airport to improve financial management and efficiency of operations, as well as energy efficiency standards.
To date, the EBRD has invested about US$ 770 million in various sectors of the Kyrgyz economy, with projects in infrastructure accounting for a third of the total investment.