Prime Minister of Kazakhstan Olzhas Bektenov met with European Bank for Reconstruction and Development (EBRD) President Odile Renaud-Basso in Astana on the sidelines of the 37th plenary meeting of the Foreign Investors Council to discuss expanding cooperation on key infrastructure and development projects across the country.
The leaders reviewed ongoing and future collaborations in transport infrastructure, green energy, small and medium-sized enterprises (SMEs), agriculture, and information technology.
Prime Minister Bektenov emphasized Kazakhstan’s commitment to strengthening its strategic partnership with the EBRD, highlighting that 25 new projects worth $935mn were signed in 2024 alone.
“The President of Kazakhstan Kassym-Jomart Tokayev pays special attention to the role of the EBRD, which actively contributes to the development of our national economy and modernization of infrastructure,” Bektenov stated. “Our focus remains on quality growth and improving the well-being of our people.”
Kazakhstan currently hosts 129 active EBRD-financed projects totaling over $3.2bn, with 75% dedicated to sustainable infrastructure. Since the beginning of cooperation, the total volume of joint initiatives has reached 340 projects valued at $11.6bn.
During the meeting, the sides discussed a new substation project in Astana to enhance electricity supply reliability in response to growing demand. They also addressed the joint development of the Just Energy Transition Partnership (JETP), aimed at mobilizing green investments and supporting Kazakhstan’s shift to a low-carbon economy.
Renaud-Basso noted the EBRD’s record investment growth in Kazakhstan last year and reaffirmed the Bank’s support for the country’s National Infrastructure Plan through 2029.
An important outcome of the meeting was the signing of an agreement between NC KazAvtoZhol and the EBRD to finance the reconstruction of a 234-kilometer section of the Aktobe–Ulgaysyn highway. The upgraded road, which will meet first-category standards with four-lane traffic, is expected to boost transport connectivity and enhance Kazakhstan’s role in regional transit corridors.
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