(MENAFN- Trend News Agency)
ASTANA, Kazakhstan, July 7. The European Bank
for Reconstruction and Development (EBRD) plans to double the
volume of investments in the Economy of Kazakhstan, Hüseyin Özhan,
the Acting Managing Director of EBRD for Central Asia, said,
Trend reports.
He made the remark during a meeting with Deputy Prime Minister
and Minister of National Economy of Kazakhstan, Nurlan
Baibazarov.
"This year, the bank plans to at least double the volume of
investments in the economy of Kazakhstan. The EBRD is working on a
major project with Kazakhstan Electricity Grid Operating Company
(KEGOC), which will help improve the reliability of electricity
supply in the west of the country. Previously, the largest
territorial project was signed - the construction of new treatment
facilities in Aktobe; funds were allocated for the construction of
new production facilities of the leading producer of table salt,
Araltuz JSC, as well as to support women and youth
entrepreneurship," he said.
As he noted, in June 2024, a new passenger terminal at Almaty
Airport opened ahead of schedule, the construction of which was
also financed by the EBRD. The bank also took part in the IPO of
the national airline Air Astana.
In turn, Baibazarov noted that Kazakhstan intends to expand
cooperation with the EBRD, both at the country and regional levels,
and also supports the bank's desire to invest in the private
sector.
"Our country is ready for mutually beneficial work with the EBRD
to attract investments for the implementation of projects in
energy, transport, and logistics, the development of renewable
energy sources, and private business," he noted.
Furthermore, the EBRD's current project portfolio in Kazakhstan
reaches 2.8 billion euros as of February 29, 2024, based on the
implementation of 119 active portfolio projects.
In addition, the bank has invested about 10 billion euros in 317
projects in Kazakhstan. Kazakhstan is the EBRD's largest and
longest-running Central Asian banking business.
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