EBRD doubles investment in Kazakhstan’s economy

Deputy Prime Minister – Minister of National Economy Nurlan Baibazarov held a meeting with Hussein Ozkhan, Acting Managing Director of the European Bank for Reconstruction and Development (EBRD) for Central Asia and Mongolia, Liter.kz reports with reference to site government of the Republic of Kazakhstan.

“In 2024, the bank plans to at least double the volume of investments in the country’s economy. In particular, the EBRD is working on a major project with the Kazakh grid management company KEGOC, aimed at improving the reliability of electricity supply in the west of the country,” said Hussein Ozhan.

Also among the major projects are the construction of new treatment facilities in Aktobe and the expansion of production capacity of the leading producer of table salt, JSC Araltuz. In addition, the bank supports women’s and youth entrepreneurship.

In June 2024, the new passenger terminal at Almaty Airport opened ahead of schedule, the construction of which was also financed by the EBRD. The bank participated in the IPO of the national air carrier Air Astana.

“Kazakhstan intends to expand cooperation with the EBRD. 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,” the Deputy Prime Minister noted.

As noted by the government press service, since the beginning of its operations in Kazakhstan, the EBRD has invested 10.2 billion euros in 324 projects. Currently, the bank’s portfolio in the country includes 121 projects worth more than 2.9 billion euros.