ASTANA — The Asian Infrastructure Investment Bank (AIIB) will lend $150 million to support the Almaty Railway Bypass Project, a landmark investment aimed at strengthening freight efficiency, urban mobility and regional connectivity in Kazakhstan. The financing is provided to Kazakhstan Temir Zholy (KTZ) under a nonsovereign structure.
Photo credit: AIIB
As part of a broader financing package, the International Finance Corporation (IFC), AIIB and the Multilateral Investment Guarantee Agency (MIGA) will jointly provide up to $300 million equivalent in Swiss-franc-denominated support to KTZ, combining IFC and AIIB investment with a MIGA guarantee. The partnership reflects strong international confidence in Kazakhstan’s transport modernization agenda.
The project will finance construction of a new single-track electrified freight railway bypass along Almaty’s northern perimeter, extending about 75 kilometers between Zhetygen and Kazybek Bek stations. The route will provide a dedicated freight corridor outside the city center and includes new stations, bridges, overpasses and terminal upgrades, reported the AIIB on Jan. 14.
The investment is expected to reduce congestion, free up capacity for passenger services, lower emissions and strengthen Kazakhstan’s role in regional transit across Eurasia, including along the Middle Corridor trade route.
According to Konstantin Limitovskiy, chief investment officer at AIIB, strengthening Kazakhstan’s transport backbone is essential for supporting the economy’s long-term growth and its role as a key connectivity hub across Eurasia.
“This project removes one of the most significant bottlenecks in the national rail system, enabling faster, cleaner and more reliable freight movement. We are pleased to partner with KTZ on an investment that enhances efficiency for businesses and improves mobility for citizens,” he said.
