November 30, 2022

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IFC to Help Kyrgyz Republic Attract Private Investment, Expand Manas International Airport

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IFC is functioning with the govt of the Kyrgyz Republic to appeal to non-public sector investments to support increase the Manas Global Airport functions and give greater expert services to airlines, travellers, and customers. The project will assistance advertise the country’s infrastructure improvement and travel economic recovery.

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IFC is advising the Ministry of Financial state and Commerce of the Kyrgyz Republic on structuring a general public-personal partnership (PPP) challenge to modernize and grow the airport. The private sector spouse, to be decided on by way of an international competitive bidding system, is expected to foster greatest techniques in funding, functions, and administration to assist the airport operate to its complete possible, acquire targeted traffic, and safeguard the passions of shareholders, consumers, and staff members.

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Daniyar Amangeldiev, Minister of Economic climate and Commerce of the Kyrgyz Republic, mentioned, “The challenge contributes to enhancing the country’s connectivity and creating the tourism sector by enhancing the performance of Manas Intercontinental Airport by means of personal sector involvement. With IFC’s support, we are assured we will be capable to structure a effective public-private partnership for the country’s principal airport.”

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The Kyrgyz Republic is a mountainous landlocked region, which is intensely dependent on air connectivity. A concerted effort and hard work to improve Manas Intercontinental Airport, which served 2.2 million travellers right before the pandemic, is critical to enhance the country’s connectivity and help tourism, business, and trade. As airports have been strike significantly challenging by the pandemic, the modernization and growth of Manas Intercontinental Airport can play a vital function in boosting the country’s financial restoration.

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Cassandra Colbert, IFC Regional Supervisor for Central Asia, explained, “By attracting private sector financial investment and abilities, airport concessions can provide considerable economic added benefits for nations by producing jobs, strengthening passenger expertise and cargo managing, and cutting down the fiscal load on governments. We are delighted to be doing the job with the Kyrgyz govt to structure and tender the Manas Worldwide Airport PPP challenge.”

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IFC has helped governments about the earth to competitively tender 5 airport concessions that gain above 20 million passengers and draw in about $5 billion in non-public expenditure to individuals international locations. IFC is presently advising governments on five new airport concessions in Asia, Eastern Europe, the Middle East, and the Caribbean.

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About IFC
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IFC—a member of the Earth Financial institution Group—is the largest world improvement establishment focused on the non-public sector in emerging markets. We work in extra than 100 nations around the world, utilizing our funds, skills, and influence to develop markets and alternatives in developing nations around the world. In fiscal calendar year 2021, IFC dedicated a document $31.5 billion to private corporations and economic establishments in building nations around the world, leveraging the ability of the non-public sector to conclusion excessive poverty and boost shared prosperity as economies grapple with the impacts of the COVID-19 pandemic. For a lot more information, take a look at www.ifc.org.

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