(MENAFN- Trend News Agency) BAKU, Azerbaijan, September 2. The Asian Infrastructure Investment Bank (AIIB) and Kazakhstan's Ministry of National Economy have signed a Memorandum of Understanding to launch a multi-year rolling pipeline (MYRP) of infrastructure projects worth up to $6 billion through 2029, Trend reports.

The agreement was signed by Konstantin Limitovskiy, AIIB's Chief Investment Officer for Region 2, and Shakhrat Nuryshev, Kazakhstan's Ambassador to China. The signing was witnessed by Kazakh President Kassym-Jomart Tokayev and AIIB President Jin Liqun, who hailed the deal as a milestone in bilateral cooperation.

The MYRP outlines financing for 14 sovereign-backed projects designed to diversify Kazakhstan's economy, accelerate its transition to green energy, modernize transport networks, and strengthen social infrastructure. The initiative is also expected to bolster Kazakhstan's role as a regional transit hub, with broader benefits for Central Asia.

“Today we are not just signing a document, we are opening a new chapter in our strategic partnership with Kazakhstan,” said Limitovskiy.“This framework is a $6 billion blueprint for progress that will modernize vital transport networks, enhance healthcare and propel Kazakhstan's green transition.”

As a founding member of AIIB, Kazakhstan has already attracted more than $2.2 billion in financing across eight projects. The new framework marks a shift from individual investments to a comprehensive programmatic approach, underscoring AIIB's long-term commitment to Kazakhstan's development.

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