EDB · Published:
EDB and Griffin Partners sign a credit agreement for a warehouse in Almaty
The Eurasian Development Bank and Griffin Partners have signed a credit agreement to finance the first stage of Griffin Logopark Almaty. It follows the June memorandum of cooperation.
From memorandum to financing
The June agreement recorded an intention to work together. The August credit agreement is the practical step: financing for a specific construction stage. The partnership moves from understandings to delivery.
Construction of the first phase started in July. It now has EDB credit support: the bank confirms it will meet its commitments to regional warehouse infrastructure at every project stage, not only at the level of agreements.
What the parties said
Sergey Ignatov, Senior Managing Director at EDB, called the move from memorandum to credit agreement a natural stage in the strategic partnership with Griffin Partners. Financing the first stage, he said, confirms that the bank is delivering on its commitments to modern warehouse infrastructure in the region, and that joint projects should set a new quality standard for warehouse real estate in Central Asia.
Oleg Gusakov, representing Griffin Logopark Almaty LLP, noted that construction, which started in July, now has EDB credit behind it. The first phase will be the foundation of the logistics park and an anchor for surrounding territories, including Alatau City.
Why it matters
The credit agreement is a public confirmation that the project has moved from intention to actual financing and construction. For the Central Asian warehouse market it is a signal: a development institution of EDB’s standing is prepared to invest not only at the memorandum stage, but at the stage of practical delivery.
Sources