Bishkek, Kyrgyz Republic, October 19, 2021 ─ IFC is working with the government of the Kyrgyz Republic to attract private sector investments to help improve the Manas International Airport operations and provide better services to airlines, passengers, and customers. The project will help promote the country's infrastructure development and drive economic recovery.
IFC is advising the Ministry of Economy and Commerce of the Kyrgyz Republic on structuring a public-private partnership (PPP) project to modernize and expand the airport. The private sector partner, to be chosen through an international competitive bidding process, is expected to foster best practices in financing, operations, and management to help the airport operate to its full potential, develop traffic, and safeguard the interests of shareholders, customers, and employees.
Daniyar Amangeldiev, Minister of Economy and Commerce of the Kyrgyz Republic, said, "The project contributes to improving the country's connectivity and developing the tourism sector by enhancing the efficiency of Manas International Airport through private sector involvement. With IFC's support, we are confident we will be able to structure a successful public-private partnership for the country's main airport."
The Kyrgyz Republic is a mountainous landlocked country, which is heavily dependent on air connectivity. A concerted effort to improve Manas International Airport, which served 2.2 million passengers before the pandemic, is critical to improve the country's connectivity and support tourism, business, and trade. As airports were hit particularly hard by the pandemic, the modernization and expansion of Manas International Airport can play a key role in boosting the country's economic recovery.
Cassandra Colbert, IFC Regional Manager for Central Asia, said, "By attracting private sector investment and expertise, airport concessions can deliver significant economic benefits for countries by creating jobs, improving passenger experience and cargo handling, and reducing the fiscal burden on governments. We are delighted to be working with the Kyrgyz government to structure and tender the Manas International Airport PPP project."
IFC has helped governments around the world to competitively tender five airport concessions that benefit over 20 million passengers and attract over $5 billion in private investment to those countries. IFC is currently advising governments on five new airport concessions in Asia, Eastern Europe, the Middle East, and the Caribbean.
IFC—a member of the World Bank Group—is the largest global development institution focused on the private sector in emerging markets. We work in more than 100 countries, using our capital, expertise, and influence to create markets and opportunities in developing countries. In fiscal year 2021, IFC committed a record $31.5 billion to private companies and financial institutions in developing countries, leveraging the power of the private sector to end extreme poverty and boost shared prosperity as economies grapple with the impacts of the COVID-19 pandemic. For more information, visit www.ifc.org.