The European Bank for Reconstruction and Development is investing up to $125 million in a Eurobond issued by Kazakhstan Temir Zholy, as part of a broader bond programme of up to $1 billion listed on major exchanges including the London Stock Exchange, the Kazakhstan Stock Exchange and the Astana International Exchange. The investment aims to strengthen regional connectivity across Central Asia and enhance the operational efficiency of Kazakhstan’s national railway system.
The funding will support the modernisation of passenger railway stations across the country, improving safety, operational performance and capacity. Planned upgrades include enhanced lighting, increased throughput capacity and better accessibility for passengers with disabilities, contributing to a more efficient and inclusive transport system.
Part of the financing will also be directed toward infrastructure improvements along the Trans-Caspian Corridor, helping to make rail transport between Europe and Asia more sustainable. Kazakhstan Temir Zholy operates an extensive network spanning over 16,000 kilometres, with a large fleet of locomotives, freight wagons and passenger cars, making it a key player in regional logistics and trade.
In addition to financial support, the EBRD will provide technical cooperation to help the railway operator adopt international standards for passenger transport and strengthen cybersecurity systems. This combined approach is intended to improve service quality, resilience and long-term performance.
Kazakhstan remains the largest and longest-standing recipient of EBRD investment in Central Asia, with nearly $12 billion invested across hundreds of projects. This latest initiative reinforces the Bank’s ongoing commitment to developing sustainable infrastructure and boosting economic connectivity in the region.
