ASTANA, Kazakhstan, November 1. The EBRD intends to invest €2 billion in Kazakhstan's economy in the coming years as part of the implementation of the green transition program, Trend reports.
The discussion about this plan took place during a meeting between EBRD President Odile Renaud-Basso and Kazakhstan's President Kassym-Jomart Tokayev.
Odile Renaud-Basso arrived in Kazakhstan to participate in the 36th plenary session of the Foreign Investors Council.
During the meeting, the interlocutors discussed the prospects for implementing a number of joint investment projects across various sectors of the economy, including small and medium-sized businesses, finance, housing and utilities, energy, medicine, agriculture, transport infrastructure, and information technology. The head of state highly appreciated the strategic nature of cooperation with the European Bank for Reconstruction and Development (EBRD) and its contribution to the progress of Kazakhstan's economy.
In turn, the EBRD President shared plans for potential areas of collaboration aimed at fostering sustainable growth, improving the investment climate, and modernizing the country. She noted that the bank is closely examining investment projects in Kazakhstan and expressed interest in further supporting infrastructure development. The EBRD plans to invest $650 million in Kazakhstan this year to implement 22 projects.
The EBRD President also gave a positive assessment of the procurement process at Samruk-Kazyna, noting that creditor companies conduct procurement according to the fund's rules, indicating trust in its procurement processes and their transparency. Kassym-Jomart Tokayev and Odile Renaud-Basso also exchanged views on pressing issues of global economic development.
In 2022, the EBRD marked 30 years of cooperation with
Kazakhstan. The Board of Directors approved the new country
strategy for the EBRD in Kazakhstan for 2022-2027 on June 22, 2022,
outlining work in three main areas:
Enhancing the competitiveness and interconnectedness of the private
sector; Supporting Kazakhstan on its path to green development
toward carbon neutrality and climate resilience; Promoting economic
integration and gender equality through private sector
participation.
To date, the total investment by the EBRD in Kazakhstan since its inception in the country has reached approximately €10 billion across 312 different projects. Currently, the EBRD's portfolio in Kazakhstan includes 113 projects totaling €2.8 billion, with the main portfolio concentrated in the sustainable infrastructure sector (70 percent). Investments in the private sector have reached 46 percent.