Kazakh Prime Minister Olzhas Bektenov met with Nikolay Podguzov, Chairman of the Management Board of the Eurasian Development Bank (EDB). They discussed the implementation of projects in priority economic areas and prospects for further expansion of investment cooperation.
According to the EDB press service, during the meeting, the Kazakh Prime Minister was briefed on the work being done to complete the EDB's latest strategic period and the implementation of projects in Kazakhstan. The Bank's accumulated portfolio includes 326 projects with a total investment volume of $19.6 billion. In 2022-2026 alone, the EDB invested nearly $9 billion in the economies of its member countries, including $5.2 billion in investment commitments in Kazakhstan. This is comparable to the Bank's investment volume over the previous 15 years. Over the past four years, investment in Kazakhstan's economy has exceeded $1 billion annually, reaching $1.5 billion in 2025. Kazakhstan's share of the EDB's current investment portfolio currently stands at 64.9%. EDB investments in the country are distributed across key sectors: approximately $2.1 billion in industrial development, $1 billion in energy, $1 billion in transport infrastructure, and $1 billion in the financial sector.
Significant projects include financing the construction of the Sillen gas processing plant, the KPI gas chemical complex in the Atyrau region, the modernization of mining and metallurgical enterprises, and the reconstruction of thermal power plants in Karaganda, Almaty, Aktobe, and other cities. The bank actively supports the development of both traditional and renewable energy. Specifically, approximately every 8 kW of electricity generated in Kazakhstan was generated with EDB participation. These projects are located in the Karaganda, Turkestan, Akmola, and other regions. In the transport sector, funding has been provided for projects to supply locomotives and freight cars for Kazakhstan Temir Zholy and reconstruct highways. Projects in the fields of AI and digital platform development are supported through the Digital Initiatives Fund and technical assistance mechanisms.
This year, the EDB will continue financing major projects, including in the manufacturing and mining sectors, among others. Specifically, the modernization of the Ust-Kamenogorsk Thermal Power Plant (TPP) will continue, improving the reliability of the city's heat supply and reducing equipment depreciation. The construction of two solar power plants in the Turkestan and Kyzylorda regions, along with the commissioning of new generating capacity, is planned. Investments in the telecommunications sector are envisaged for the development of communications infrastructure and digital coverage. In industry, projects aimed at increasing production and creating new jobs are planned. The Chairman of the EDB Management Board noted the Bank's readiness to comprehensively support the country's economic development and improve the quality of life for its citizens. Nikolay Podguzov noted that the constitutional reform being carried out in Kazakhstan will, among other things, contribute to further improving the country's investment climate. The Prime Minister of Kazakhstan emphasized the importance of investing in the development of basic infrastructure, which is in line with the state's current priorities. Furthermore, one of the key areas of further cooperation is the digital agenda, which is being actively promoted both in Kazakhstan and in other countries. There is significant potential for joint work in this area.
Following the meeting, the importance of further strengthening the constructive partnership and expanding investment cooperation for the sustainable development of Kazakhstan's economy was noted.
The Eurasian Development Bank (EDB) is a multilateral development bank investing in the Eurasian region. For over 20 years, the EDB has been promoting the strengthening and expansion of economic ties and the comprehensive development of its member countries. By the end of 2025, the EDB's accumulated portfolio included 326 projects with a total investment volume of USD 19.6 billion. The majority of the EDB's portfolio is comprised of projects with an integration effect in transport infrastructure, digital systems, green energy, agriculture, industry, and mechanical engineering. The EDB's activities are guided by the UN Sustainable Development Goals and ESG principles.
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