Deputy Prime Minister and Minister of National Economy Nurlan Baibazarov recently met with Hüseyin Özhan, Acting Managing Director for Central Asia and Mongolia at the European Bank for Reconstruction and Development (EBRD). Their discussions centered on ongoing projects and the EBRD’s plans to ramp up investment in Kazakhstan.
Highlighting the crucial role of foreign investments in fostering sustainable socio-economic growth, both parties underscored the significance of the EBRD’s expanded financial commitment. According to Hüseyin Özhan, the EBRD aims to double its investments in Kazakhstan’s economy this year.
One of the key initiatives includes a substantial partnership with Kazakhstan's electricity grid management company, Kazakhstan Electricity Grid Operating Company (KEGOC), aimed at enhancing electricity supply reliability in the western region.
Previously, the EBRD supported the construction of new wastewater treatment facilities in Aktobe and contributed funds to expand production facilities for Araltuz, a leading table salt producer. Additionally, the bank has actively promoted women's and youth entrepreneurship initiatives.
In a notable achievement, the newly opened passenger terminal at Almaty airport, completed ahead of schedule in June 2024, also received financial backing from the EBRD. The bank further participated in the initial public offering (IPO) of Kazakhstan's national air carrier, Air Astana.
Expressing Kazakhstan’s commitment to deeper collaboration, Deputy Prime Minister Nurlan Baibazarov affirmed the country’s readiness to partner with the EBRD on projects spanning energy, transportation, logistics, renewable energy, and private sector development. He emphasized Kazakhstan’s support for the EBRD’s strategic focus on private sector investments.
Since its inception in Kazakhstan, the EBRD has invested €10.2bn across 324 projects, with a current portfolio of 121 projects valued at over €2.9bn.
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