Olzhas Bektenov discusses the implementation of joint projects with Nikolai Podguzov, Head of the EDB
Astana, 27 February 2026.
Olzhas Bektenov, Prime Minister of Kazakhstan, met with Nikolai Podguzov, Chairman of the Eurasian Development Bank’s (EDB) Management Board. The parties discussed the implementation of projects in priority sectors and prospects for further expansion of investment cooperation.
During the meeting, the Prime Minister was briefed on progress in completing the EDB’s current strategic cycle and on the implementation of projects in Kazakhstan. The Bank’s cumulative portfolio includes 326 projects with total investment of US $19.6 billion. In 2022–2026 alone, the EDB invested nearly US $9 billion in its member states, of which US $5.2 billion in investment commitments accounted for Kazakhstan, comparable to the Bank’s total investments in the country over the previous 15 years. Over the past four years, annual investment in Kazakhstan has exceeded US $1 billion, reaching US $1.5 billion in 2025. As of today, the country accounts for 64.9% of the EDB’s current investment portfolio. The Bank’s investments in the country are distributed across key sectors: about US $2.1 billion allocated to industry, US $1 billion to energy, US $1 billion to transport infrastructure and US $1 billion to the financial sector.
Landmark projects include financing the construction of the Silleno gas processing plant, the KPI gas chemical complex in the Atyrau Region, the modernisation of mining and metallurgical enterprises and the reconstruction of thermal power plants in Karaganda, Almaty and Aktobe. The bank actively supports the development of both conventional and renewable energy. In particular, approximately one in every eight kilowatt-hours of electricity in Kazakhstan has been generated with the EDB’s participation, including projects in the Karaganda, Turkistan, Akmola and other regions. In the transport sector, the Bank financed projects for the supply of locomotives and freight wagons for Kazakhstan Temir Zholy and road reconstruction. The Fund for Digital Initiatives and technical assistance instruments support projects in artificial intelligence and digital platform development.
In 2026, the EDB will continue financing major projects, including in manufacturing and the mining sector. In particular, the modernisation of the Ust-Kamenogorsk CHPP will continue, improving the reliability of heat supply and reducing equipment wear. Plans also include the construction of two solar power plants in the Turkistan and Kyzylorda regions with the commissioning of new generating capacity. Investment is envisaged in the telecommunications sector to develop communications infrastructure and expand digital coverage. Industrial projects aimed at increasing production capacity and creating new jobs are also planned.
Nikolai Podguzov reaffirmed the Bank’s readiness to contribute comprehensively to the development of Kazakhstan’s economy and to improving living standards in the country. He noted that the constitutional reform implemented in Kazakhstan would, among other outcomes, further enhance the country’s investment climate.
The Prime Minister emphasised the importance of investment in core infrastructure development, in line with current state priorities. He also highlighted the digital agenda as one of the key areas for further cooperation, actively promoted both in Kazakhstan and in other countries, noting the significant potential for joint initiatives in this area.
Following the meeting, the parties underscored the importance of further strengthening constructive partnership and expanding investment cooperation in support of the sustainable development of Kazakhstan’s 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 2025, the EDB’s cumulative portfolio comprised 326 projects with a total investment of US $19.6 billion. The portfolio consists principally of projects with an integration effect in transport infrastructure, digital systems, green energy, agriculture, manufacturing and mechanical engineering. The EDB’s operations are conducted in line with the United Nations’ Sustainable Development Goals and ESG principles.
The EDB Media Centre:
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