Kazakhstan secured a massive influx of international capital for ambitious transport, energy, and climate projects throughout 2025, yet this development surge coincided with a significant rise in the nation’s external debt, which grew by $6.7 billion in nine months to reach $171.4 billion by 1 October, highlighting a critical need for balanced financial management.
According to information today, Global financial institutions channelled substantial funding into the country, aligning with Kazakhstan”s strategic goals of economic modernisation and enhancing its role as a key transit hub.
The European Bank for Reconstruction and Development (EBRD) was the most prominent investor, directing funds into diverse sectors. In manufacturing, it backed export-oriented facilities, including a $10 million loan for a coffee processing plant in Khorgos and a pound 25 million loan for a food additives plant in the Turkestan region.
The financial sector also received significant EBRD backing, with $60 million allocated to Bank CenterCredit for green lending and SME support, and $25 million to Home Credit Bank Kazakhstan for climate-oriented projects. Microfinance institutions KMF and Arnur Credit received a combined $32 million to bolster enterprises led by women and youth.
Infrastructure, however, remained the EBRD’s primary focus. The bank approved pound 449 million for JSC KazAvtoZhol to reconstruct a 234-kilometre section of the Aktobe-Ulgaisyn highway, a project with a total value exceeding pound 1 billion in collaboration with the Asian Infrastructure Investment Bank (AIIB).
Reinforcing Kazakhstan”s transit potential, the EBRD provided a pound 35 million loan to the Aktau port, complemented by a pound 10 million EU grant. This initiative is central to developing the Trans-Caspian International Transport Route (TITR), or Middle Corridor, a key component of the EU’s Global Gateway programme.
Regional energy security was another key area of cooperation. In October 2025, the EBRD, alongside the European Investment Bank (EIB) and the EU, signed memoranda to provide a combined financing package of up to pound 2.2 billion for the construction of the Kambarata-1 hydropower plant in Kyrgyzstan, an initiative involving Kazakhstan and Uzbekistan.
The Asian Development Bank (ADB) focused on broader regional initiatives. On 5 April 2025, the ADB, AIIB, and the energy ministries of Azerbaijan, Kazakhstan, and Uzbekistan signed an agreement to study a Caspian Green Energy Corridor for transmitting renewable energy to Europe.
The ADB is also leading the multi-national ‘From Glaciers to Farms’ programme, backed by a $250 million Green Climate Fund approval, to create sustainable water and agricultural systems. Furthermore, the bank pledged over $10 billion by 2030 for the Central Asia Regional Economic Cooperation (CAREC) Program.
The World Bank contributed to Kazakhstan’s climate agenda with a $4.8 million grant to develop its carbon market and strengthen its pioneering Emissions Trading System (ETS), the first in Central Asia.
The European Investment Bank (EIB) furthered its commitment by providing a pound 200 million loan via the Development Bank of Kazakhstan for roads, transport corridors, and renewable energy. The EIB also partnered with the Kazakhstan Housing Company to promote energy-efficient homes.
Other institutions, including the Eurasian Development Bank (EDB) and the Islamic Development Bank (IsDB), also launched significant projects in sustainable energy, irrigation, and infrastructure, with the IsDB signing a memorandum to attract up to $1.1 billion.
These investments support Kazakhstan’s ambitious national strategy, which includes commissioning 2.3 GW of new renewable energy capacity by 2030 and constructing or reconstructing over 11,000 km of roads by 2026.
While Kazakhstan’s potential in green energy and transport infrastructure has made it a nexus for global investment, the successful realisation of these plans hinges on sound financial discipline to manage its growing external liabilities.