EDB to provide financing to one of Kazakhstan's largest copper producers
Astana, 26 June 2026.
The Eurasian Development Bank (EDB) and KAZ Minerals Management LLP signed an agreement on key terms for financing of KAZ Minerals Group. The funds will be used to finance the Group's investment programme.
The document was signed on the sidelines of the EDB's Annual Meeting and Business Forum by Ruslan Dalenov, Deputy Chairman of the EDB Management Board, and Aizhan Balabatyrova, Chair of the Management Board of KAZ Minerals Management LLP.
"For KAZ Minerals Group, cooperation with the EDB confirms the sustainability of business, the quality of management, and the prospects for further growth. We expect this agreement to become the basis for strengthening our partnership with the Bank," noted Aizhan Balabatyrova, Chair of the Management Board of KAZ Minerals Management LLP.
Ruslan Dalenov, Deputy Chairman of the EDB Management Board, emphasized: "The signing of the agreement marks the beginning of a long-term cooperation between the EDB and the KAZ Minerals Group. This financing is aimed at supporting one of the key copper producers in Kazakhstan. It is important for the EDB to support companies that ensure the sustainability of the region's industrial base by contributing to long-term economic growth and increasing the competitiveness of the regional economy."
Additional Information:
The Eurasian Development Bank (EDB) is a multilateral development bank investing in Eurasia. For more than 20 years, the Bank has worked to strengthen and expand economic ties and foster comprehensive development in its member countries. By the end of December 2025, the EDB’s cumulative portfolio comprised 326 projects with a total investment of US $19.6 billion. The Bank's portfolio consists principally of projects with an integration effect in transport infrastructure, digital systems, green energy, agriculture, manufacturing, and mechanical engineering. The Bank’s operations are guided by the UN Sustainable Development Goals and ESG principles.
As part of its 2022–2026 Strategy, the EDB is implementing 3 mega-projects: The Water and Energy Complex of Central Asia, The Eurasian Transport Network, and The Eurasian Commodity Distribution Network.
KAZ Minerals Group is a copper producer specializing in large-scale, low-cost open-pit mining in Kazakhstan. The Group operates the Aktogay and Bozshakol open-pit mines in the Abai and Pavlodar regions of Kazakhstan, three underground mines and associated processing plants in the Abai and East Kazakhstan regions of Kazakhstan, and the Bozymchak copper-gold mine in Kyrgyzstan.
KAZ Minerals employs over 14,000 people in Kazakhstan and Kyrgyzstan.
The EDB Media Centre:
+7 (727) 244 40 44, ext. 4774 and 2160