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EBRD lends $50 million to Air Astana

4 September 2021 15:25

NUR-SULTAN. KAZINFORM - The European Bank for Reconstruction and Development (EBRD) is facilitating better connectivity in the Central Asia region and beyond as well as promoting international flight safety standards by providing new funds to Kazakhstan’s flag carrier Air Astana for its investment and working capital needs, reports.

An EBRD multicurrency loan equivalent to US$ 50 million will help Air Astana develop its infrastructure and operations of its maintenance and training centre in Nur-Sultan with a full flight simulator for pilots.

Air Astana will make its maintenance and pilot training facilities available to other regional airlines and provide training programmes to external parties, focusing on greater involvement of female specialists.

Air Astana, which is jointly owned by the national welfare fund Samruk-Kazyna and British aerospace, defence and security company BAE Systems, has been the Bank’s client since 2015.

To date, the EBRD has invested more than US$ 8.4 billion in the economy of Kazakhstan through 288 projects.