Kazakhstan, EBRD Discuss Co-Op On Projects In Energy Field


(MENAFN- Trend News Agency) ASTANA, Kazakhstan, April 16. Kazakhstan'sSamruk-Kazyna (Sovereign Wealth Fund) and the European Bank forReconstruction and Development (EBRD) have discussed cooperation onprojects in the energy field, Trend reports.

According to Samruk-Kazyna, discussions took place between thehead of the fund Nurlan Zhakupov and the Managing Director,Sustainable Infrastructure Group at the EBRD Nandita Parshad andthe director of the EBRD in Kazakhstan Huseyin Ozhan.

The parties, in particular, reviewed cooperation within theframework of the project "Integration of the energy system ofWestern Kazakhstan with the Unified Electric Power System of theRepublic of Kazakhstan."

Zhakupov noted that the fund and the fund's portfolio companieshave been cooperating with the EBRD for a long time and havedeclared their readiness for further cooperation.

Meanwhile, the EBRD's current project portfolio in Kazakhstanreaches 2.77 billion euros as of January 31, 2024, based on theimplementation of 117 active portfolio projects.

Investments in sustainable infrastructure projects haveincreased to 71 percent of the whole portfolio. At the same time,the amount of investment climbed from 1.91 billion to 1.95 billioneuros. The EBRD's portfolio continues to comprise 24 percentindustrial, trade, and agricultural projects. However, volumeclimbed from 643 to 654 million euros. The financial sectorportfolio remained stable in terms of share. Investments infinancial institutions account for 6 percent of the portfolio (from149 million to 164 million euros).

Meanwhile, the bank has spent almost ten billion euros in 317projects in Kazakhstan. Kazakhstan is the EBRD's largest and mostestablished Central Asian banking company.

MENAFN16042024000187011040ID1108100105


Trend News Agency

Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.