The EDB and Kcell join forces to attract up to US $100 million in KZT to accelerate Kazakhstan’s digital transformation

The cooperation between the Eurasian Development Bank (EDB) and Kcell is aimed at promoting Kazakhstan's digital transformation by expanding mobile network coverage and introducing high-speed internet in urban and rural areas across the country.

Astana, 2 March 2026

The Eurasian Development Bank (EDB) and Kcell (operating under the Kcell and activ brands) have signed a KZT-denominated loan agreement equivalent to up to US $100 million, joining forces to accelerate Kazakhstan's digital transformation.

About the Agreement

The agreement supports the development of national digital infrastructure and contributes to the growth of the digital economy and business.

Kcell's Role in the Digital Ecosystem

As a national operator with extensive infrastructure and a broad subscriber base, Kcell plays a key role in developing Kazakhstan's digital ecosystem. The financing will accelerate the implementation of planned projects to expand the network and introduce advanced technological solutions aimed at improving the availability and quality of communications for both the public and businesses.

Quotes

"We thank the EDB for its trust and strategic partnership. Securing financing from the multilateral development bank confirms the resilience of Kcell's business model and the company's strategic importance for Kazakhstan's digital development," said Sabigat Rakhmetov, Chief Financial Officer and Member of the Management Board of Kcell JSC.

"Scaling up telecommunications infrastructure is essential for digital development and for providing access to modern communication services. Our strategic partnership creates additional opportunities to further accelerate the adoption of advanced digital technologies," commented Azamat Tyuleubai, Senior Managing Director and Head of the EDB Project Unit.

Key Facts

• Financing amount: up to US $100 million in KZT
• Loan currency: KZT
• Parties to the agreement: EDB and Kcell
• Geography: entire territory of Kazakhstan
• Impact type: accelerating the availability and quality of communications for the public and businesses

Market Significance

By joining forces, the EDB and Kcell are paving the way for:

• innovative digital solutions,
• sustainable growth of the telecommunications sector,
• contributing to the Sustainable Development Goals (SDGs),
• the development of high-tech companies and promising projects across the Eurasian region.

FAQ

What is the purpose of the agreement?
To promote Kazakhstan's digital transformation.

Who is financing the project?
The Eurasian Development Bank.

Who will implement the projects?
Kcell JSC, the national operator.

What is the impact for users?
Stable, fast and accessible communications in cities and regions.

@Press Release

Additional Information:

The Eurasian Development Bank (EDB) is a multilateral development bank investing in Eurasia. For more than 20 years, the Bank has worked to strengthen and expand economic ties and foster comprehensive development in its member countries. By the end of 2025, the EDB's cumulative portfolio comprised 326 projects with a total investment of US $19.6 billion. The portfolio consists principally of projects with an integration effect in transport infrastructure, digital systems, green energy, agriculture, manufacturing and mechanical engineering. The EDB's operations are conducted in line with the United Nations' Sustainable Development Goals and ESG principles.

Kcell JSC (operating under the Kcell and activ brands) is Kazakhstan's operator providing digital telecommunications services, including mobile communications and fixed-mobile convergence (FMC) services, data transmission and internet access, financial and digital services, mobile applications, IT solutions in system integration, the Internet of Things, machine-to-machine interaction, big data collection and processing and cloud computing. It is the leading operator in Kazakhstan in terms of the provision of the "smartphone + tariff" service. Kcell is part of the Kazakhtelecom Group, a key player in Kazakhstan's telecommunications market, and operates as a diversified telecommunications provider, combining traditional mobile and fixed-line services with fast-growing digital segments, ensuring the country's digital connectivity for more than 27 years.

The EDB Media Centre:

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[email protected]

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