IBRD, AIIB back $1.4bn financing for Kazakh rail connectivity project

By Global Infrastructure Sherpa · Feb 23, 2026

Financing Transport announced Kazakhstan Feb 23, 2026

USD1.4B

Deal Value

Kazakh rail connectivity project

Project

The World Bank approved an $846 million IBRD guarantee to mobilise $1.41 billion in long-term commercial financing for a rail connectivity project on Kazakhstan’s.

Deal Analysis

The World Bank's IBRD guarantee of $846 million is set to mobilize $1.41 billion in commercial financing for a rail connectivity project in Kazakhstan. This financing, with involvement from the Asian Infrastructure Investment Bank (AIIB) and potential investment from JS Link, a South Korean infrastructure company, aims to enhance Kazakhstan's transport infrastructure. The project underscores the importance of multilateral development bank support in attracting private sector investment for large-scale infrastructure projects in emerging markets. This deal is notable for its size and the collaboration between IBRD and AIIB, signaling a coordinated effort to support infrastructure development in Central Asia. The involvement of JS Link suggests potential for further South Korean participation in regional infrastructure projects. The successful execution of this financing could serve as a model for future infrastructure projects in the region, demonstrating the viability of public-private partnerships backed by multilateral guarantees.

IBRD guarantee unlocks $1.41 billion in financing.
Collaboration between IBRD and AIIB.
Potential involvement of South Korean investor JS Link.
Focus on rail connectivity in Kazakhstan.

Market Context: Kazakhstan is a key transit hub in Central Asia, and investments in its transport infrastructure are crucial for facilitating trade and regional integration. The transport sector is a priority for the Kazakh government, with ongoing efforts to modernize and expand its rail network.