The European Bank for Reconstruction and Development ( EBRD ) is investing US$125 million in a Eurobond issue from Kazakhstan Temir Zholy ( KTZ or Kazakhstan Railways ). 

The US$1 billion offering is listed on the London Stock Exchange, Kazakhstan Stock Exchange, and Astana International Exchange. 

The funding seeks to improve Central Asia’s regional connectivity and boost the operational efficiency of Kazakhstan Railways. The EBRD’s investment will help to modernize passenger stations across Kazakhstan, supporting improvements in their safety and operational performance. The new stations will have higher throughput capacity, modern lighting, and significant enhancements for disabled passengers. 

Additional infrastructure upgrades financed by the bond will take place along the Trans-Caspian Corridor and will help make rail transportation between Europe and Asia more sustainable.

KTZ owns and operates a 16,400-kilometre railway network and manages more than 1,700 locomotives, 46,800 freight cars, and 2,300 passenger cars. 

The EBRD will also mobilize technical cooperation funds to help KTZ meet international standards for railway passenger transportation. This will include supporting the firm’s efforts to strengthen its cybersecurity. 

The bank has invested almost US$12 billion in Kazakhstan through 352 projects, making the country the largest and longest‑running recipient of EBRD investment in Central Asia.