DBK and second-tier banks are joining forces to restore and develop the country's road infrastructure.

The Development Bank of Kazakhstan (a subsidiary of Baiterek Holding) has approved the raising of up to USD 700 million in financing for the National Company QazAvtoZhol from a syndicate of second-tier banks to support the further implementation of a project to rehabilitate national highways.

National Company QazAvtoZhol has signed an agreement to refinance part of its obligations to the Development Bank of Kazakhstan (DBK) under the project using funds provided by a syndicate of second-tier banks — Halyk Bank, Eurasian Bank and Bank CenterCredit. The event was also attended by Usen Galym, Deputy Chairman of the Management Board of the National Investment Holding Baiterek, and Marat Yelibayev, Chairman of the Management Board of the Development Bank of Kazakhstan.

“To ensure the practical implementation of the Head of State’s instructions, a special project office was established jointly with the National Bank, the Agency for Regulation and Development of the Financial Market, the Association of Financiers of Kazakhstan and second-tier banks. During its operation, concrete solutions and mechanisms have been developed, and today we are moving our joint efforts towards tangible practical results,” emphasized Usen Galym.

The agreement signed by the syndicate of second-tier banks for the QazAvtoZhol project is a practical example of how cooperation between DBK and Kazakhstan’s second-tier banks contributes to improving the condition and operational performance of highways, as well as developing the transit potential of the Republic of Kazakhstan.

DBK has been participating in financing this project since 2024. The loan agreement amounts to USD 1 billion. To date, work has been completed at 164 sites covering a total of 3,272 km. Work is ongoing at another 60 sites covering 1,594 km. These include sections of strategically important highways such as Samara–Shymkent, Zhezkazgan–Petropavl, Dossor–Aktau, Kyzylorda–Pavlodar and Yekaterinburg–Almaty, as well as other significant transport routes across the country. DBK’s involvement in QazAvtoZhol projects spans 15 regions of Kazakhstan, including Abai, Akmola, Aktobe, Atyrau, East Kazakhstan, Zhambyl, Zhetysu, West Kazakhstan, Karaganda, Kostanay, Mangystau, Pavlodar, North Kazakhstan and Turkistan regions, as well as the city of Almaty.

“We view commercial banks as partners with whom we can pool financial resources and expertise to support the country’s priority strategic and socially significant projects. This approach broadens opportunities for attracting capital, enables DBK to structure the participation of not only international financial institutions but also second-tier banks in its projects more flexibly, and allows us to channel even greater resources into accelerating the country’s economic development,” said Marat Yelibayev, Chairman of the Management Board of DBK.

Projects involving the rehabilitation, reconstruction and construction of highways across the country are part of DBK’s extensive project portfolio, which is already being implemented in partnership with international financial institutions. A financing model for capital-intensive industrial projects based on cooperation between state development institutions and second-tier banks is already being applied in DBK’s operations. One example is KAZ Minerals Aktogay LLP, a large-scale mining and processing complex and one of the largest open-pit copper mines in Central Asia. After the enterprise achieved stable operating performance, Halyk Bank assumed responsibility for servicing the obligations under DBK’s second financing facility.

Over its 25 years of operations, the Bank has financed 218 investment projects and 151 export transactions, with a total value of approximately KZT 19 trillion. With DBK’s support, 151 new enterprises have been commissioned, creating more than 38,000 jobs. In 2025, the Bank provided financing for 77 projects totalling KZT 2.3 trillion.