Washington, June 11, 2026—The Multilateral Investment Guarantee Agency (MIGA), home of the World Bank Group Guarantee Platform, is supporting a fresh round of financing for the ongoing modernization of Kazakhstan’s state-owned railway operator, supporting the country’s ambitions to become the largest transit and logistics hub in Central Asia while bolstering global trade and creating and protecting jobs.

MIGA has issued a guarantee to Standard Chartered to cover the bank’s 156 million Swiss franc (approximately $200 million) loan to Kazakhstan Temir Zholy (KTZ), which plays a pivotal role in regional connectivity, trade, and development and is one of the largest employers in Kazakhstan. The project will improve freight flows along the Trans-Caspian Transport Corridor, also known as the Middle Corridor, which is becoming increasingly important as an alternative route from Asia and Central Asia to Europe.

The Non-honoring of Financial Obligations by a State-Owned Enterprise coverage from MIGA marks the agency’s third engagement with KTZ, following earlier projects announced in 2023 and earlier this year.

Kazakhstan has ambitions to become the largest transit and logistics hub in Central Asia, acting as a bridge connecting Europe with Asia. As part of these plans, KTZ is embarking on a multibillion-dollar capital-expenditure program during the period 2025-2029 focusing on construction of new lines, modernizing infrastructure, and renewing rolling stock.

The MIGA-backed loan will be used to rehabilitate KTZ’s track infrastructure, which is expected to extend the useful life of the railway track by 40 years. It will also help address climate risks and impacts, lower maintenance and operational costs, and improve the quality and reliability of railway services for users through enhanced safety, train speed, and reduced number of technical accidents.

As part of the project, KTZ has also committed to a Gender Action Plan that will support more and better jobs for women, including leadership roles.

Muhamet Bamba Fall, MIGA’s Director for Industries, said: “For a large, landlocked country, Kazakhstan’s railway network plays a critical role in the country’s socioeconomic development and is the key and often only link connecting the country’s 17 regions. We are proud to partner with Standard Chartered to support Kazakhstan in its efforts to modernize its railway infrastructure and achieve its ambitions to become the largest transit and logistics hub in Central Asia. The project will create jobs while supporting over 117,000 people currently employed by KTZ.”

Desislava Radeva, Executive Director, Development and Agency Finance, Standard Chartered, said: “Supporting KTZ in this landmark transaction underscores our commitment to financing critical infrastructure that enhances regional connectivity and drives sustainable economic growth. This project is pivotal in strengthening Kazakhstan’s position as a key transport hub between Asia and Europe.”

Dair Kusherov, Managing Director at KTZ, said: “KTZ’s infrastructure modernization program is central to strengthening Kazakhstan’s role as a key transit and logistics hub between Asia and Europe. We highly value MIGA’s continued support and Standard Chartered’s partnership in financing projects that enhance the reliability, safety, and efficiency of our railway network”.