The Eurasian Development Bank (EDB) will continue financing strategic energy, transport, and industrial projects in Kazakhstan, with a focus on digital technologies and innovation, according to Nikolai Podguzov, Chairman of the EDB Management Board. Podguzov made the announcement during a meeting with Kazakhstan’s Prime Minister Olzhas Bektenov on February 26.
The EDB is a multilateral development bank that supports economic and infrastructure projects in its six member states: Armenia, Belarus, Kazakhstan, Kyrgyzstan, Russia, and Tajikistan.
According to Podguzov, in 2025, the EDB plans to invest in socially significant projects in Kazakhstan, including:
- Expansion and modernization of combined heat and power plants in the country’s central and eastern regions.
- Construction of a polyethylene plant.
- Development of the 545 MW Altyn Dala solar power plant.
In 2024, the EDB allocated nearly $1.4 billion to projects in Kazakhstan, bringing its total investment in the country over the past three years to $3.6 billion. This reflects Kazakhstan’s prominent share in the EDB’s investment portfolio.
Bektenov reaffirmed Kazakhstan’s interest in deepening cooperation with the EDB, particularly in the energy and utilities sectors.
“The Eurasian Development Bank is an important partner for Kazakhstan. Last year, the bank’s investment in our economy grew by nearly 40%, and its loan portfolio in Kazakhstan increased to 63.4% of the bank’s total loan portfolio. We are interested in expanding our cooperation on mutually beneficial terms and unlocking new opportunities in both traditional and emerging areas,” the prime minister stated.
