The short version: Kazakh-Chinese cooperation is getting another financing channel, but for now it is a framework deal. The fund's name, size, each side's contribution and the target projects have not been made public.
The agreement was signed at the Kazakhstan-China Investment Forum in Almaty by the national company Kazakh Invest and Silk Road Finance Corporation. Kazakh Invest's press release lists it among the key deals: an AIFC-based investment fund to finance Kazakhstan's priority projects.
According to Kursiv and other outlets, the partners will jointly design the fund's structure and operating mechanisms, build a portfolio, and raise institutional and private money, including foreign capital. Investments will target priority sectors of the economy. The legal home will be the Astana International Financial Centre, with its own infrastructure and an independent legal system based on English common law.
Why the AIFC? A fund registered there gives foreign investors access to the centre's own court and arbitration, with AFSA as regulator.
Rules related to this news
For context, Kazakh Invest says about 50 commercial documents worth over 8.2 billion US dollars were exchanged at the forum, ten of them, worth 5.4 billion, in the presence of the Head of State. The same package included an aluminium smelter in Abai region, wind projects in Zhetysu and Akmola regions, and Almaty's dim sum bond plan.
What does it mean for Chinese companies? Nobody can apply to the fund yet because it does not exist. Firms with projects in Kazakhstan, especially in processing, energy and infrastructure, should watch for the fund's registration, the choice of manager and published investment criteria.
The gap between signing and closing a fundraise is usually long, and terms may change. Final parameters will follow from later announcements by Kazakh Invest and the AIFC.
Sources:
Kazakh Invest, https://invest.gov.kz/ru/media-center/press-releases/v-almaty-s-uchastiem-glavy-gosudarstva-prokhodit-investitsionnyy-forum-kazakhstan-kitay/
Kursiv, https://kz.kursiv.media/2026-09-25/svan-kazahstan-i-kitaj-sozdadut-sovmestnyj-fond-dlya-privlecheniya-investicij/
Key facts
- Kazakh Invest and Silk Road Finance Corporation signed an agreement at the Kazakhstan–China Investment Forum in Almaty, under which they plan to establish an investment fund.
- The fund is intended to be established on the basis of the Astana International Financial Centre (AIFC) to finance priority projects in Kazakhstan.
- The fund's size, contributors' ownership ratios, manager, and initial projects have not yet been announced.
- The parties will next jointly design the fund's structure and operating mechanism, build its investment portfolio, and raise institutional and private capital.
- A fund registered with the AIFC may use the Centre's own court and arbitration mechanisms, while regulatory oversight is handled by the AFSA.
- According to Kazakh Invest, the parties exchanged approximately 50 commercial documents during the forum, with a total value exceeding USD 8.2 billion.
FAQ
Can Chinese companies apply to the fund directly at present?
No. At present, this is only a framework agreement, and the fund has not yet been established. Companies with projects in Kazakhstan may monitor subsequent developments.
Which sectors is the fund expected to invest in?
According to the agreement, the fund will invest in Kazakhstan's priority economic sectors. The specific investment criteria and list of sectors have not yet been announced.
Where will the fund be registered, and what legal regime will apply?
The fund is intended to be established on the basis of the Astana International Financial Centre (AIFC), using the Centre's infrastructure and an independent legal system based on English common law.
Which parties signed the agreement?
The agreement was signed by Kazakh Invest, Kazakhstan's national investment company, and Silk Road Finance Corporation at the Kazakhstan–China Investment Forum held in Almaty.
What will the parties do next?
The parties will jointly design the fund's structure and operating mechanism, build its investment portfolio, and attract institutional and private capital, including foreign capital.