Islamic Development Bank to Invest $1.3 Billion in Kazakhstan's Economic Zones

During a working visit to Jeddah, Saudi Arabia, Kazakhstan's Minister of Industry and Construction, Yersaiyn Nagaspayev, held talks with the President of the Islamic Development Bank (IsDB), Muhammad Sulaiman Al Jasser.

The meeting focused on the current state and future prospects of cooperation between the IsDB and Kazakhstan's financial institutions. Discussions also covered expanding investment collaboration in key economic sectors, including industrial infrastructure and the modernization of utility networks. Special attention was given to implementing joint projects aimed at sustainable development and enhancing the country's investment appeal.

Following the negotiations, two key agreements were signed. The first is a framework agreement between the IsDB and Kazakhstan's Industrial Development Fund to attract $1.3 billion for financing the construction and modernization of infrastructure within Special Economic Zones (SEZs) and Industrial Zones (IZs).

The second agreement, signed with the Ministry of Industry and Construction, secures a $1.3 million technical assistance grant from the IsDB.

"The signed documents create a solid financial and institutional foundation for modernizing zone infrastructure and represent an important step in strengthening strategic partnership between Kazakhstan and the Islamic Development Bank," stated Yersaiyn Nagaspayev.

The grant support will be directed towards improving SEZ management mechanisms, digitalizing processes, implementing modern administrative standards, and enhancing the professional competencies of managing companies. These measures aim to establish a more transparent and efficient operational model for the zones, focused on attracting investment and developing export-oriented production.

This initiative aligns with recent directives from President Kassym-Jomart Tokaev. On February 10, 2026, during an expanded government meeting, he instructed that a new model for SEZ development be approved within three months. The President emphasized the need to fully utilize their potential, stating that SEZs must become full-fledged investment platforms employing modern regulatory norms, new tools, and service solutions for subsequent nationwide scaling.