EDB to provide up to $31.2 million for Astana data center project

BAKU, Azerbaijan, October 19. The Eurasian Development Bank (EDB) and AKASHI Data Center PLC have signed an agreement to provide up to $31.2 million in financing for a data center project in Astana, according to the bank.

The project will expand Kazakhstan's data storage and processing capacity and mark the first data center construction project in the EDB's investment portfolio.

AKASHI Data Center PLC is developing one of the largest commercial data center construction projects in Central Asia. The campus will have a total planned capacity of 100 megawatts (MW), with approximately 10 MW allocated to the first phase. The design documentation for AKASHI Data Center 1, Phase 1, has received Tier IV Certification of Design Documents from the Uptime Institute.

The project will expand the availability of modern data storage and processing infrastructure in Kazakhstan and create additional opportunities for financial institutions, technology companies and cloud service providers.

"AKASHI Data Center supports Kazakhstan’s strategic focus on developing its digital economy and artificial intelligence. Kazakhstan’s President, Kassym-Jomart Tokayev, has designated 2026 as the Year of Digitalisation and Artificial Intelligence, and the EDB’s participation in the project will make a practical contribution to achieving these priorities. Building modern data storage and processing infrastructure will expand opportunities for the digital transformation of businesses and help strengthen Kazakhstan’s position as a regional technology hub," said Sergey Ignatov, EDB Senior Managing Director and Head of the Project Block.

Vladislav Minkevich, Chairman of the Management Board of AKASHI Data Center, noted that Kazakhstan can become not only a consumer but also an exporter of digital infrastructure.

"When international companies host their computing workloads in Kazakhstan, export revenues are generated here, driving demand for local engineering expertise, telecommunications and services. This is precisely the model we are developing at AKASHI. The EDB’s participation in the project represents an investment in a new area of non-resource exports, where Kazakhstan will be able to compete for international customers on the strength of the quality and reliability of its technology infrastructure," he said.

Modern data center infrastructure allows companies to host mission-critical information systems in specialised facilities without having to build their own data centers. This helps businesses optimise their infrastructure solutions and creates favourable conditions for developing digital products and services.

The AKASHI Data Center project aims to provide a reliable foundation for the continuous operation of digital services and enable computing capacity to scale as business needs grow.

AKASHI Data Center is a company developing a commercial data center campus in Astana, with total investment of approximately $354 million and a planned capacity of 100 MW. The campus will comprise four independent data center modules, along with dedicated power and telecommunications infrastructure.

A separate module is being designed to support high-density artificial intelligence workloads and high-performance computing using liquid cooling technology. The campus is being developed as a carrier-neutral facility with four independent optical fibre entry points and connectivity options to Kazakhstani and international telecommunications operators. The first phase is scheduled to commence commercial operations in 2027.

The Eurasian Development Bank (EDB) is a multilateral development bank investing in Eurasia. For 20 years, the bank has worked to strengthen and expand economic ties and foster comprehensive development in its member countries. By the end of December 2025, the EDB's cumulative portfolio comprised 348 projects with total investment of $22.1 billion. Its portfolio consists principally of projects with an integration effect in transport infrastructure, digital systems, green energy, agriculture, manufacturing and mechanical engineering. The bank adheres to the UN Sustainable Development Goals and ESG principles in its operations.

The EDB is implementing three mega-projects as part of its 2022-2026 Strategy: the Eurasian Transport Network, the Eurasian Agricultural Goods Distribution System and the Central Asian Water and Energy Complex.