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Astana, Kazakhstan • 19 September 2023

Kazakh Railways and Citibank Sign Finance Agreement for Wabtec Locomotives

Citigroup seeks to expand its activities in Kazakhstan

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Akorda
Akorda

On September 17 in New York, President Kassym-Jomart Tokayev and the CEO of Citigroup Jane Fraser discussed the company’s plans for the development of Kazakhstan's transportation and logistics, Akorda press service reports.

During the meeting, the parties discussed the potential for the expansion of the holding's financial activities in our country. In this context, the president noted that the government is currently tasked with attracting three reliable foreign banks to the country to increase competition in this area.

Following the conclusion of the meeting, Kazakhstan Temir Zholy national railway company and Citibank signed an agreement on the basic conditions for the organization of financing for the purchase of Wabtec locomotives.

Citibank Kazakhstan is the only American bank represented in Kazakhstan and is one of the leading partners for international investors, the public sector, and major enterprises in the country.

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