Standard Chartered supports Kazakhstan’s rail modernisation with CHF156 million MIGA-backed financing

11 June, London, UK – Standard Chartered has announced its role in a CHF156 million MIGA-backed financing for joint-stock company National Company Kazakhstan Temir Zholy (KTZ), the national railway operator of Kazakhstan, to support the rehabilitation of the country’s rail network and the modernisation of its rolling stock. 

The financing will strengthen both freight and passenger capacity, enhance safety, and improve operational efficiency across Kazakhstan’s rail infrastructure. The project also supports development along the Middle Corridor, a strategically important route connecting China and Central Asia to the Caspian Sea and onwards to Europe.

Standard Chartered acted as Sole MIGA Coordinator, Original Lender and Facility Agent, leveraging its deep expertise in structuring transactions supported by the World Bank Group’s Multilateral Investment Guarantee Agency (MIGA).

The proceeds will be used to rehabilitate Kazakhstan’s existing railway network and modernise KTZ’s fleet of locomotives and passenger cars, supporting the country’s broader infrastructure and connectivity ambitions. 

This transaction reinforces Standard Chartered’s growing presence in Kazakhstan and builds on its strong momentum in the market, following the successful closing of a CHF243 million facility for KTZ earlier in 2026. The Bank also demonstrated its ability to deliver tailored financing solutions by structuring the facility in Swiss francs at the borrower’s request.

Desislava Radeva, Executive Director, Development and Agency Finance, Standard Chartered noted: “Supporting KTZ in this landmark transaction underscores our commitment to financing critical infrastructure that enhances regional connectivity and drives sustainable economic growth. This project is pivotal in strengthening Kazakhstan’s position as a key transport hub between Asia and Europe.” 

Muhamet Bamba Fall, MIGA’s Director for Industries, said: “For a large, landlocked country, Kazakhstan’s railway network plays a critical role in the country’s socioeconomic development and is the key and often only link connecting the country’s 17 regions. We are proud to partner with Standard Chartered to support Kazakhstan in its efforts to modernize its railway infrastructure and achieve its ambitions to become the largest transit and logistics hub in Central Asia. The project will create jobs while supporting over 117,000 people currently employed by KTZ.”

Dair Kusherov, Managing Director, KTZ stated: “KTZ’s infrastructure modernization program is central to strengthening Kazakhstan’s role as a key transit and logistics hub between Asia and Europe. We highly value MIGA’s continued support and Standard Chartered’s partnership in financing projects that enhance the reliability, safety, and efficiency of our railway network”.

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For further information please contact:

Denada Muka
Communications, Europe
Standard Chartered Bank
Tel: +44 7884476951
Email: Denada.Muka@sc.com

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