Asian Development Bank is set to significantly expand its investment footprint in Kazakhstan, committing $5.5 billion to major development projects between 2026 and 2029.

The agreement was confirmed following negotiations between the Kazakh government and the bank’s leadership, culminating in a memorandum covering 15 large-scale projects, The Caspian Post reports via Kazakh media.

A key priority of the partnership will be the modernization of Kazakhstan’s district heating systems. Plans include:

Development of energy-efficient heating schemes across regions

Introduction of modern gas-based solutions

Deployment of thermal energy storage systems

Digital management of energy networks

The investment program also emphasizes decarbonization efforts and the introduction of advanced technologies aimed at improving efficiency and reducing environmental impact.

Kazakh Energy Minister Yerlan Akkenzhenov held talks with Director General of the Asian Development Bank Yevgeniy Zhukov, highlighting expanding cooperation between the two sides.