The Kazakh Qurultay approved the ratification of the Framework Partnership Agreement with the Asian Infrastructure Investment Bank (AIIB), Qazinform News Agency reports. Deputy Prime Minister - National Economy Minister of Kazakhstan Serik Zhumangarin presented the draft law at today’s Qurultay session.
According to Zhumangarin, Kazakhstan is one of the founding members of the AIIB and has been cooperating with the bank since its establishment in 2016. During this period, seven projects worth a total of 1.8 billion US dollars were developed in the country in the spheres such as energy, healthcare, and economic and fiscal resilience.
“In the first five years following ratification, the framework agreement will make it possible to attract approximately 6 billion US dollars in additional long-term concessional financing for the national economy, including for projects in transport, energy, healthcare, and green finance,” Serik Zhumangarin said.
The agreement is expected to expand financing instruments for development projects, reduce pressure on the state budget by reallocating government expenditures to higher-priority initiatives, and streamline project implementation procedures. Work is expected to begin soon on financing several major infrastructure projects, including the reconstruction of the Zhezkazgan-Karaganda, Aktobe-Karabutak-Ulgaissyn, Atyrau-Dossor, and Moyynty-Kyzylzhar road and railway corridors.
In the long term, AIIB-supported projects are expected to contribute to GDP growth, job creation, private sector and small and medium business development, innovation, and improvements in Kazakhstan’s investment climate and sovereign credit rating. A similar agreement between the Government of Kazakhstan and the Asian Development Bank was ratified in 2020, while an agreement with the World Bank Group was ratified in April 2026.
The framework partnership agreement with the AIIB was signed in February this year during the official visit of the AIIB President to Kazakhstan.