BAKU, Azerbaijan, November 11. The Eurasian Development Bank (EDB) and Kazakhstan’s Bank CenterCredit have agreed to expand their cooperation in arranging syndicated financing for investment projects aimed at developing Kazakhstan's priority economic sectors, the EDB announced.
The relevant Memorandum of Understanding was signed in Abu Dhabi on November 10 by Ruslan Dalenov, Deputy Chairman of the Management Board of the EDB, and Nurlan Shegebayev, Vice President and Member of the Management Board of Bank CenterCredit.
The signing took place during an event marking the opening of the EDB office at Abu Dhabi Global Market (ADGM), attended by representatives of the UAE Ministry of Finance.
According to Dalenov, the two banks are moving towards the practical implementation of joint investment projects, including through syndicated financing arrangements.
"One successful example of this cooperation is the participation of our banks in financing the further development of Almaty International Airport as part of a syndicate arranged by Bank of America, with total financing amounting to $670 million. Building on this positive experience, the parties intend to expand their cooperation, including through participation in new syndicated transactions and the financing of major investment projects in Kazakhstan," he said.
In turn, Shegebayev noted that syndicated lending is becoming an important source of financing for Kazakhstan's real economy.
"The signing of this Memorandum reinforces our commitment to taking our cooperation with the Eurasian Development Bank to a new level. By combining our financial resources with our in-depth knowledge of the Kazakhstani market, we will be able to offer large businesses optimal long-term financing structures. This will help accelerate the launch of strategically important projects in priority industrial and infrastructure sectors," he said.
EDB is a multilateral development bank investing in Eurasia. Over its 20 years of operation, the bank has focused on strengthening economic ties and promoting comprehensive development in its member countries.
As of the end of June 2026, the EDB's cumulative portfolio comprised 348 projects with total investments of $22.1 billion. Its portfolio primarily includes projects with an integration effect in transport infrastructure, digital systems, green energy, agriculture, manufacturing, and mechanical engineering.
Bank CenterCredit was established in 1988 and is one of Kazakhstan's oldest and largest commercial banks. The bank has more than 150 branches across all regions of Kazakhstan and serves over 3 million customers.
