Kazakhstan’s Qurultay has approved the ratification of a Framework Partnership Agreement with the Asian Infrastructure Investment Bank (AIIB), paving the way for billions of dollars in additional long-term financing for the country’s development projects.

Deputy Prime Minister and National Economy Minister Serik Zhumangarin presented the draft law during the Qurultay session, according to Qazinform.

Kazakhstan has been a founding member of the AIIB and has cooperated with the bank since its establishment in 2016. Over that period, seven projects worth a combined $1.8 billion have been developed in Kazakhstan, covering areas including energy, healthcare, and economic and fiscal resilience.

“During the first five years following ratification, the framework agreement will make it possible to attract approximately $6 billion in additional long-term concessional financing for the national economy, including projects in transport, energy, healthcare and green finance,” Zhumangarin said.

The agreement is expected to broaden financing options for development projects, ease pressure on the state budget by allowing government spending to be redirected toward higher-priority areas, and simplify procedures for implementing projects.

Financing work is expected to begin soon on several major infrastructure projects, including the reconstruction of the Zhezkazgan-Karaganda, Aktobe-Karabutak-Ulgaissyn, Atyrau-Dossor and Moyynty-Kyzylzhar road and railway corridors.

In the longer term, AIIB-backed projects are expected to support GDP growth, job creation, private-sector and small and medium-sized enterprises' (SME) development, innovation, and improvements in Kazakhstan’s investment climate and sovereign credit rating.

Kazakhstan previously ratified similar framework agreements with the Asian Development Bank in 2020 and the World Bank Group in April 2026.

The framework partnership agreement with the AIIB was signed in February 2026 during the AIIB president’s official visit to Kazakhstan.