IFC, MIGA, AIIB and Standard Chartered Support Almaty Railway Bypass with $300 Million Investment in Kazakhstan Temir Zholy

• IFC, MIGA, AIIB, and Standard Chartered support Almaty Railway Bypass with up to $300 million in financing for Kazakhstan Temir Zholy.
• The bypass will divert freight around Almaty to ease a major bottleneck, increase rail capacity, improve reliability, and significantly reduce transit times along the Transcaspian Transport Corridor (TCTC).
• The project strengthens Kazakhstan's role as a regional transit hub, boosting trade facilitation, competitiveness, and connectivity across Central Asia.

Almaty, Kazakhstan, January 13, 2026-Kazakhstan's state-owned railway operator, Joint Stock Company National Company Kazakhstan Temir Zholy (KTZ), has secured up to $300 million equivalent in Swiss-franc-denominated financing from IFC, the Asian Infrastructure Investment Bank (AIIB), and Standard Chartered (SC), with SC's participation supported by a proposed guarantee from the Multilateral Investment Guarantee Agency (MIGA). This long-term financing aims to improve logistics efficiency in Kazakhstan, strengthen trade and competitiveness, and enhance regional connectivity.

The financing, comprising an IFC investment of up to $50 million, an AIIB loan of up to $150 million, and an SC loan of up to $100 million supported by a proposed MIGA guarantee, will finance the construction of the 130-kilometer electrified Almaty Railway Bypass. The bypass is expected to reduce congestion around Almaty by more than 40 percent, cut delivery times by up to 24 hours, and improve freight flows along the Trans-Caspian Transport Corridor (TCTC), also known as the Middle Corridor, an overland route linking China and Central Asia to the Caspian Sea and onward to Europe.

As the TCTC grows as an alternative route from Asia and Central Asia to Europe, congestion has intensified, underscoring the need for targeted infrastructure investments. The Almaty Railway Bypass will help meet this demand by adding capacity, strengthening reliability, and shortening freight transit times.

"The Almaty Railway Bypass will be a pivotal upgrade for our network, unlocking capacity and reducing congestion around Almaty. It will enable KTZ to handle growing long-haul freight volumes more efficiently, strengthen the resilience of regional logistics, and enhance the competitiveness of the Trans-Caspian Transport Corridor as a reliable bridge between Asia and Europe," said Dair Kusherov, Chief Financial Officer of KTZ.

The project represents a major milestone in the collaboration between international financial institutions and KTZ on rail infrastructure financing. It sets a model for upcoming railway projects in the country, including strong financial and operational due diligence, high environmental and social standards and the use of guarantees to mobilize private capital.

"IFC's investment aims to support Kazakhstan's efforts to modernize national rail infrastructure, expand electrification, and increase capacity on the Middle Corridor. By addressing key bottlenecks and improving network reliability, the project is expected to generate positive spillovers for trade facilitation, private sector competitiveness, and the overall logistics ecosystem. It also supports Kazakhstan's efforts to deepen connectivity and integration across Central Asia and the Caucasus," said Laura Vecvagare, IFC's Regional Head of Industry for Infrastructure and Natural Resources in the Middle East and Central Asia.

"Strengthening Kazakhstan's transport backbone is essential for supporting the country's long-term growth and its role as a key connectivity hub across Eurasia", said Konstantin Limitovskiy, Chief Investment Officer, Public Sector (Region 2) & Project and Corporate Finance (Global) Clients at AIIB. "The Almaty Railway Bypass Project removes one of the most significant bottlenecks in the national rail system, enabling faster, cleaner and more reliable freight movement. We are pleased to partner with Kazakhstan Temir Zholy on an investment that enhances efficiency of railway transportation.

"MIGA's non honoring credit enhancement guarantee for Standard Chartered is intended to unlock longer-tenor commercial lending and mobilize private capital for KTZ," said Muhamet Bamba Fall, MIGA's Director of Industries. "Once finalized, the proposed guarantee would be MIGA's second credit enhancement guarantee supporting KTZ's access to international commercial lending to finance its investment program, which aims to enhance Kazakhstan's role as a regional transit hub along the Middle Corridor and therefore strengthening regional connectivity".

Desislava Radeva, Executive Director, Development and Agency Finance, at Standard Chartered, said: "We are proud to be part of this vital financing to provide upfront capital for the Almaty Railway Bypass project that will boost Kazakhstan's economic growth and productivity. Our invested expertise and involvement highlight the strategic importance of infrastructure to the Bank and our commitment to the sector."

About the World Bank Group Guarantee Platform

Initiated in 2024, the World Bank Group Guarantee Platform consolidates guarantee products and experts from across the World Bank Group at MIGA. It provides a simplified and comprehensive menu of guarantee solutions, enabling clients to select the instrument that best suits their needs. The platform streamlines processes, removes redundancies, and provides greater accessibility by de-risking investments in developing countries. Its goal is to boost the World Bank Group's annual guarantee issuance to $20 billion by 2030. For more information about the guarantee platform, please visit: https://www.worldbank.org/wbgguarantees

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About AIIB

The Asian Infrastructure Investment Bank is a multilateral development bank dedicated to financing "Infrastructure for Tomorrow," with sustainability at its core. AIIB began operations in 2016, now has 111 approved members worldwide, is capitalized at USD100 billion, and is AAA-rated by major international credit rating agencies. AIIB collaborates with partners to mobilize capital and invest in infrastructure and other productive sectors that foster sustainable economic development and enhance regional connectivity. For more information, visit AIIB - Asian Infrastructure Investment Bank.

About Standard Chartered

We are a leading international banking group, with a presence in 54 of the world's most dynamic markets. Our purpose is to drive commerce and prosperity through our unique diversity, and our heritage and values are expressed in our brand promise, here for good.

Standard Chartered PLC is listed on the London and Hong Kong stock exchanges.

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