BAKU, Azerbaijan, November 5. Financing for Kazakhstan from international financial institutions (IFIs) increased by $207 million during the third quarter of 2026, according to an analytical brief by the Eurasian Development Bank (EDB) titled "New Players and Major Projects: International Financial Institutions' Investments in Q3 2026."
The report notes that the range of institutions supporting private businesses in Kazakhstan has expanded. The country was the largest recipient of non-sovereign financing from IFIs both in the third quarter and over the first nine months of 2026.
The main investors included the Multilateral Investment Guarantee Agency (MIGA), the Eurasian Development Bank, Proparco, the OPEC Fund for International Development and the Turkic Investment Fund.
The OPEC Fund approved non-sovereign financing in Kazakhstan for the first time, extending a $30 million loan to a Kazakh financial institution to support small and medium-sized enterprises (SMEs) and agribusiness.
The Turkic Investment Fund also approved its first operations in Kazakhstan, allocating $10 million to KMF Bank and $20 million for the modernization of Almaty International Airport.
Overall, IFIs invested $1.1 billion in new projects across the region, comprising Azerbaijan, Armenia, Georgia, Kazakhstan, Kyrgyzstan, Mongolia, Tajikistan, Turkmenistan and Uzbekistan, in the third quarter of 2026.
"Regional IFI financing declined by 36% year-on-year during the quarter, primarily due to a decrease in the number of large-scale transactions. However, this did not change the positive trend for the year as a whole. Over the first nine months of 2026, IFI financing increased by 50% to $6.8 billion," the report said.
