BAKU, Azerbaijan, November 11. The Eurasian Development Bank (EDB) and Kazakhstan’s Eurasian Bank have agreed to cooperate on syndicated lending for investment projects, including large-scale energy initiatives, EDB reports.
The agreement was formalized in a memorandum signed in Abu Dhabi yesterday, November 10, during an event marking the launch of the EDB office at Abu Dhabi Global Market (ADGM).
The memorandum provides for cooperation in arranging syndicated and interbank financing for investment projects, including those implemented through investment funds involving the EDB.
“The signing of the memorandum is aimed at developing a long-term partnership in the field of syndicated lending and pooling the parties’ financial resources and expertise to jointly finance large-scale projects aimed at developing Kazakhstan’s economy, including energy projects that contribute to strengthening the country’s energy security,” EDB Deputy Chairman of the Management Board Ruslan Dalenov said.
He noted that the EDB is already involved in several energy initiatives in Kazakhstan, including projects under the national program for the development of coal-fired power generation in the central and eastern regions. These projects are aimed at improving the reliability of electricity supplies, with new power plants set to use technologies compliant with Kazakhstan’s Environmental Code.
Renewable energy projects also account for a significant share of the EDB’s energy portfolio, Dalenov said.
Eurasian Bank Managing Director Nazar Mamykanov said the partnership would provide additional financing instruments for the bank to participate in major investment projects and support the development of Kazakhstan’s real economy.
The Eurasian Development Bank (EDB) is a multilateral development bank established to finance projects and promote economic integration across the Eurasian region. Over its 20 years of operation, the bank has expanded its investment activities across key sectors, including transport infrastructure, digital systems, renewable energy, agriculture, industry and mechanical engineering. As of the end of June 2026, its cumulative portfolio included 348 projects with total investments of $22.1 billion. The bank focuses on initiatives that contribute to economic connectivity and sustainable development in its member countries.
Kazakhstan’s Eurasian Bank is one of the country’s ten largest banks by assets and operates in both the corporate and retail banking segments, as well as serving small and medium-sized businesses. Its nationwide network includes 19 regional branches and 119 cash settlement offices. The bank is part of the ERG group, one of the world's major mining and mineral processing companies. Its corporate banking activities and experience in financing projects in strategically important sectors provide a basis for cooperation with the EDB on large-scale investment initiatives.
