ALMATY — The Eurasian Development Bank (EDB) and Eurasian Logistics Park LLP have signed a loan agreement for the construction of a Class A industrial and logistics complex in the Almaty region on Dec. 5. The loan stands at 16.6 billion tenge (US$ 31 million). The agreement was signed in Almaty on the sidelines of the EDB’s year-end press conference.
Sergey Ignatov, EDB’s Senior Managing Director, and Adam Mestoev, CEO of Eurasian Logistics Park LLP, were the official signatories to the loan agreement. Photo credit: EDB
The project involves the construction of two modern warehouse buildings, covering a total area of 50,000 square meters, located near the Big Almaty Ring Road. The complex is expected to be commissioned by the end of 2025, with a total project cost of 22.1 billion tenge (US$ 42 million)
Nikolai Podguzov, Chairman of the EDB Management Board, explained that this project aligns with the bank’s strategy for key infrastructure development in Eurasia. He emphasized that the logistics center will enhance Almaty’s logistics capabilities, particularly for consumer goods distribution. Additionally, it has the potential to evolve into a major trade hub, contributing to increased trade volumes, optimized supply chains, and the creation of a unified economic space.
“According to EDB’s estimates, all modern trade formats are expected to grow significantly in the region. By 2028, the annual growth of online trade is to reach 12% with a total number of 91.4 million users,” he shared.
Podguzov concluded that the EDB’s participation in the project underscores its position as a reliable partner, driving economic growth and sustainable development throughout the region.
Over the post-pandemic period, the warehouse logistics sector has been rapidly growing worldwide. According to EDB forecasts, by and including the year 2025, the demand for high-quality storage facilities in Eurasia may exceed 1 million square meters, and about 40% will be located in Kazakhstan. The construction of logistics centers both on the border and in large cities will help reduce costs and increase the efficiency of supply chains.
The EDB, a multilateral development bank investing in Eurasia, has significant experience supporting transport and logistics projects. For more than 18 years, the bank has worked to strengthen and expand economic ties and foster comprehensive development in its member countries. The EDB’s charter capital totals $7 billion. Its portfolio consists principally of projects with an integration effect in transport infrastructure, digital systems, green energy, agriculture, manufacturing, and mechanical engineering.
