Lola Abdukhalykova

Lola Abdukhalykova

Lola Abdukhalykova is a Counsel in the Banking and Finance Department. Her focus area is finance transactions, including project finance, public-private partnership (PPP) and infrastructure transactions in Kazakhstan and other Central Asian countries.


  • Project finance and PPP
  • Corporate finance/M&A
  • Capital markets
  • Foreign investment


  • LL.M. in Banking and Finance Law with merit from Queen Mary University of London (QMUL)
  • Bachelor’s degree in International Law with distinction from Al-farabi Kazakh National University


  • English
  • Russian


Overview of the current energy mix, and the place in the market of different energy sources

  • Advising an International Financial Institution (IFI) and the Government of Kazakhstan (represented by the Ministry of Health) on the ground-breaking Built-Transfer-Operate project in healthcare system (300-bed multifunctional teaching hospital), including providing full legal support with structuring of the project; advising on amendments to the legislation to make the proposed project feasible and bankable; and drafting tender documentation and concession agreement. This is the largest and debut project ever in Kazakhstan in healthcare sphere that will set up a benchmark for further projects.
  • Advising an IFI and the Government of Kazakhstan (represented by the Ministry of Industry and Infrastructural Development) on a concession project concerning new toll road in South Kazakhstan, including drafting tender documentation and concession agreement. This is the largest project ever in Kazakhstan in motor road sphere that will set up a benchmark for further projects.
  • Advising an IFI and the Government of Kazakhstan on analysis of current PPP legal framework to determine legal impediments and issues, including drafting relevant legislative amendments.
  • Advising an IFI, the Government of Uzbekistan and PPP Development Agency on development of the Uzbekistan PPP Program including, but not limited to, the development of the template PPP agreements and template PPP tender documentations for different sectors of economy (e.g. healthcare, power, transport etc), as well as supporting the development of the regulatory and institutional framework for the PPP program. The Project included advising relevant Uzbek state authorities on the ongoing largest infrastructure projects in the country, including on debut 100 Mwac solar power project.
  • Advising an IFI and the Government of Azerbaijan (represented by the Ministry of Economy and Ministry of Education) on two pilot student accommodation, PPP – structured projects, including identification of and procuring recommendations on legal constraints that prevent development of PPPs in Azerbaijan.
  • Advising an IFI on the Small Hydroelectric Power Generation PPP Project in Kyrgyzstan, including advising relevant state authorities on required improvements of local public-private partnership and hydropower plants legal frameworks as well as on general structuring of the projects.
  • Advising an IFI and the Government of Kazakhstan (represented by the Ministry of Health) on pilot PPP projects in the primary healthcare (policlinics), including drafting template tender documentations and template PPP agreements for bankable PPP projects and guidances thereto. The developed model documentation would be used for implementation of local PPP projects in the healthcare throughout the territory of Kazakhstan.
  • Advising Asian Development Bank on the study and recommendations for alternative approaches to financing of municipal housing and utilities infrastructure in the Republic of Kazakhstan, including work on improvement of the related PPP and project finance legislation.
  • Advising the Kazakhstan Project Preparation Fund on a concession project concerning a new technical college in South Kazakhstan.
  • Advising a foreign investor on entering into one of the largest investment projects in Kazakhstan - construction of a world-scale integrated petrochemical complex on production of polyethylene, including drafting the Government Support Agreement with the Government of the Republic of Kazakhstan and participation in negotiations with the Government of Kazakhstan and relevant state authorities. Project value is approximately USD 6.5 bln.
  • Advising China Development Bank (CDB) and Bank of China (Hong Kong) Limited on a USD 7.5 billion syndicated secured loan facility to Asia Gas Pipeline LLP to finance the Central Asia-China gas pipeline project, that forms the backbone of infrastructure connections between Central Asia and China.
  • Advising IFC, ADB, EBRD, EDB, IDB, CDB and other international financial institutions on numerous project finance and infrastructure transactions in Kazakhstan and Central Asia.


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Lola Abdukhalykova contributed to the World Bank Group's global research project, Benchmarking Infrastructure Development.

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The first offline meeting of the “Banking & Finance” Committee in Uzbekistan

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GRATA International is participating at the EBRD Annual Meeting & Business Forum in Uzbekistan


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Main changes and/or additions to the legislation of Kazakhstan in the field of electric power industry and public-private partnership in the first quarter of 2024

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The Insolvency Review: Kazakhstan

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The Healthcare Law Review: Kazakhstan