The European Bank for Reconstruction and Development (EBRD) plans to invest €2bn in Kazakhstan’s Green Transition Programme, aimed at accelerating the country’s shift toward a more sustainable, low-carbon economy. This update was shared by EBRD President Odile Renaud-Basso during her meeting with President Kassym-Jomart Tokayev.
The two leaders discussed the progress of ongoing projects and future collaboration across various economic sectors. Renaud-Basso highlighted the significant role of the Green Transition Programme in promoting renewable energy and environmental sustainability in Kazakhstan.
In 2024, the government of Kazakhstan and EBRD reached agreements to finance 25 projects totaling $935mn. These initiatives cover a wide range of sectors, including infrastructure, energy, and private sector development.
President Tokayev expressed appreciation for the EBRD’s continued support, particularly for Kazakhstan’s banking sector. Both sides also exchanged views on current trends in the global financial sector, reinforcing the importance of continued cooperation to ensure economic stability and growth.
EBRD’s Investment in Kazakhstan
The EBRD has been investing in Kazakhstan since 1992, focusing on enhancing private-sector competitiveness, connectivity, and economic governance. The bank is also supporting Kazakhstan’s green transition towards carbon neutrality, promoting climate resilience, and fostering economic inclusion and gender equality through private-sector engagement.
As of February 28, the EBRD has financed 335 projects in Kazakhstan, with cumulative investments of €11.05bn. The current portfolio includes €3.06bn, across 124 active operations. The bank is advancing digitalisation in private companies and supporting state digitalisation efforts, as well as investing in smart technologies in key sectors such as municipal infrastructure, transport, and energy. Additionally, EBRD is facilitating investments in critical infrastructure, including roads, railways, and alternative transport routes, under the EU’s Global Gateway initiative.
In Kazakhstan’s green transition, the EBRD is financing renewable energy projects, integrating them into the national grid, and helping develop carbon markets. The bank is also assisting in reducing air pollution, supporting decarbonisation efforts, and advising on green municipal and transport infrastructure projects.
The EBRD is fostering inclusive economic growth by promoting workforce diversity and supporting skills development in both digital and green sectors. It is also working with financial institutions to enhance inclusive lending practices, particularly for women-led businesses and regional companies, as well as supporting digital solutions to improve intra-regional connectivity.
Kazakhstan not only benefits from the EBRD’s investments but is also a donor, contributing over €70mn to various projects. The EBRD projects real GDP growth of 5.2% in 2025 and 4.5% in 2026, fueled by growth in sectors such as agriculture, construction, trade, and transport, despite challenges including inflation and a government budget deficit.
