ASTANA – The U.S. International Development Finance Corporation (DFC) announced its interest in partnering with Power International Holding, the owner of Tele2, one of Kazakhstan’s largest telecommunications companies, to upgrade and transition major telecom infrastructure in the country, opening the market to trusted vendors.
The signing of the letter of interest (LOI) and financing proposal took place on June 17. DFC CEO Ben Black and Power International Holding President and Group CEO Ramez Al-Khayyat signed the letter in Astana, reported the U.S. Embassy in Kazakhstan. “Today’s news is another demonstration of President Donald Trump’s commitment to advancing America’s strategic interests.
DFC’s proposed investment serves as the foundation of the opportunities we see in Kazakhstan, and we look forward to growing our commitment to the country,” said Black, who visited Kazakhstan and met with President Kassym-Jomart Tokayev on June 15. The letter outlines a proposed partnership to support Tele2’s transition to aligned telecom equipment, helping meet the growing demand for digital connectivity in Kazakhstan.
These upgrades would strengthen the critical infrastructure needed for 5G connectivity, mobile data services, e-commerce, digital payments and other digital services. The investment would aim to build more secure, trusted networks and support access to scalable, efficient, resilient, and secure infrastructure vital for high-speed networks and a modern digital economy.
DFC said it sees substantial opportunity in Kazakhstan and across Central Asia to advance growth and shared economic prosperity through investments in infrastructure, energy, and critical minerals, among other strategic sectors. DFC is the international investment agency of the U.S.
government and mobilizes private capital to advance U.S. foreign policy and economic development.