The EBRD in Kazakhstan

Overview
In depth
Data
News
Contacts

View over the city of Almaty in Kazakhstan

The EBRD has been investing in Kazakhstan since 1992

In Kazakhstan, we aim to boost private-sector competitiveness and connectivity and to strengthen economic governance. The EBRD is also supporting Kazakhstan’s green pathway to carbon neutrality and climate resilience, as well as promoting economic inclusion and gender equality through greater private-sector engagement.

A Kazakh success story: the EBRD has launched an initiative to boost sustainable agriculture in Central Asia. This programme will help local food producers adopt low-carbon and climate-resilient practices.

340

Number of projects to date

€10,286m

Cumulative EBRD investment

€7,602m

Cumulative disbursements

46%

Private sector share of portfolio

129

Number of active portfolio operations

€2,810m

Current portfolio of projects

€1,900m

Operating assets

Equity share of portfolio

27 July 1992

Joined the EBRD

69,020

Capital subscription (€000)

EBRD Governor: Madi Takiev
EBRD Alternate Governor: Dauren Kenbeil
EBRD Board Director: Elisabeth Vitzthum
EBRD Board Alternate Director: Esti Feldman

EBRD Shareholders information

Focus areas

Fostering private sector competitiveness, connectivity and strengthening economic governance

The EBRD is promoting the digitalisation of private companies, supporting state digitalisation strategies and facilitating investments in smart technologies across the municipal, transport and energy sectors. The Bank will be financing key infrastructure, including roads and railways, and helping develop alternative transport routes under the European Union's (EU) Global Gateway initiative. The Bank will also work with the authorities to strengthen the regulatory framework for public-private partnerships (PPPs). In the financial sector, the EBRD will concentrate on providing finance and capacity building for local banks, enhancing the use of the tenge overnight index average (TONIA) to promote local currency lending and scaling up the EBRD's Trade Facilitation Programme.

Supporting Kazakhstan’s green pathway to carbon neutrality and climate resilience

The EBRD is continuing to finance renewable energy projects and help integrate renewables into the national power network. We support the development of a decarbonised and climate-resilient energy system., focusing, in particular, on the development of carbon markets, cleaner energy generation and the reduction of air pollution, and assisting the authorities in their drive to develop Paris Agreement-aligned strategies. The EBRD will also finance and advise companies, including small businesses, on decarbonisation and will support green municipal and transport infrastructure projects.

Promoting economic inclusion and gender equality through private sector engagement

The EBRD is promoting an inclusive and diverse workforce and supporting joint public- and private-sector skills reviews, including digital and green skills, to better reflect labour-market needs. The Bank will work with Kazakhstan’s financial regulator to promote inclusive lending practices by financial institutions, help build their capacity when it comes to inclusion and support for women-led businesses. The Bank will be providing financing for businesses in Kazakhstan's regions, improving intra-regional connectivity and supporting digital solutions. We will also work with various stakeholders to promote corporate social responsibility activities in the regions to improve the local business environment.

As well as being a country where EBRD invests, Kazakhstan is an EBRD donor, supporting projects solely in Kazakhstan. Its total contributions to the Bank to date exceed €90 million, with dedicated funds supporting policy dialogue and sustainable infrastructure, small businesses, and EBRD’s Women in Business programme.

Kazakhstan has also contributed to the Women in Business programme.

The EBRD’s latest country strategy for Kazakhstan was adopted on 22 June 2022.

4.9%

EBRD forecast for Kazakhstan’s real GDP growth in 2025

4.5%

EBRD forecast for Kazakhstan's real GDP growth in 2026

Kazakhstan entered 2025 with strong economic performance, as real GDP grew by 8.3 per cent year on year in the first quarter, driven by the start of the gradual ramp up in production at the expanded Tengiz oilfield in late January. The country will need to balance this increased output with its commitments under the OPEC+ agreement, including compensating for the overproduction since 2024. The April 2025 OPEC+ decision to gradually adjust production volume upward will provide some relief. While growth will continue being supported by the surge in oil production, associated export growth and continued fiscal stimulus, weaker Chinese demand for Kazakh oil, ores, copper and other exports could negatively impact growth, as China remains the second largest export destination.

Additionally, elevated inflation and tight monetary policy may eventually dampen consumption. The National Bank of Kazakhstan raised the policy rate further to 16.5 per cent in March and kept it at that level in April, in an effort to stabilise inflation expectations in the context of ongoing fiscal stimulus and robust consumer lending as well as occasional depreciation pressures on the back of volatile oil prices and global uncertainties. Anticipated tax reforms, including a value added tax (VAT) increase, may add to inflationary pressures. However, enhanced revenue mobilisation is expected to contribute to a gradual reduction in fiscal reliance on the National Oil Fund. Real GDP growth is projected at 4.9 per cent in 2025, slowing down to 4.5 per cent in 2026.

Kazakhstan strategy and snapshot

Kazakhstan private-sector diagnostic

PDF format / 0.92 MB

Download

Kazakhstan strategy

PDF format / 1.60 MB

Download

Local language translation

PDF format / 1.88 MB

Download

Kazakhstan country snapshot

PDF format / 2.11 MB

Download

Report on public comments

PDF format / 0.59 MB

Download

Contact the EBRD in Kazakhstan

Head of Office: Hüseyin Özhan

Address:

EBRD Almaty Resident Office, 41 Kazybek Bi street, Park Palace Business Centre, 3-rd Entrance, 3-rd Floor, Almaty 050010, Kazakhstan

Telephone:

+7 727 332 00 00

Email:

ebrdalmatyinfo@ebrd.com

EBRD Astana Resident Office

Address:

Talan Towers offices BC, 16, Dostyk street, 23rd floor, Astana, Z05H9K3, Kazakhstan

Telephone:

+7 7172 554246

Email:

EbrdAstanaInfo@ebrd.com

EBRD Shymkent Satellite Office

Address:

17 Zheltoksan street, “Rixos Khadisha Shymkenta” hotel, Shymkent 160021, Kazakhstan

Telephone:

+7 7252 997 194/195

Our story

How we invest in changing lives

What we offer for businesses

Search

The EBRD in Kazakhstan

A Kazakh success story: the EBRD has launched an initiative to boost sustainable agriculture in Central Asia. This programme will help local food producers adopt low-carbon and climate-resilient practices.

Focus areas

Fostering private sector competitiveness, connectivity and strengthening economic governance

Supporting Kazakhstan’s green pathway to carbon neutrality and climate resilience

Promoting economic inclusion and gender equality through private sector engagement

Kazakhstan strategy and snapshot

Contact the EBRD in Kazakhstan

The EBRD in Kazakhstan

A Kazakh success story: the EBRD has launched an initiative to boost sustainable agriculture in Central Asia. This programme will help local food producers adopt low-carbon and climate-resilient practices.

Focus areas

Fostering private sector competitiveness, connectivity and strengthening economic governance

Supporting Kazakhstan’s green pathway to carbon neutrality and climate resilience

Promoting economic inclusion and gender equality through private sector engagement

EBRD President to visit Kazakhstan

EBRD Board of Directors to visit Kazakhstan

EBRD supports green investments in Kazakhstan

Donor Partnerships

Project financing enquiries

Media enquiries

Our products and services

Where we invest

Our sectors