OFID, Kazakhstan agree to intensify cooperation in investment sphere

Business Materials 28 July 2014 16:26 (UTC +04:00)

Astana, Kazakhstan, July 28

By Daniyar Mukhtarov - Trend:

Permanent Representative of Kazakhstan to the International Organizations in Vienna, Kairat Sarybay has met with the Director General of OPEC Fund for International Development (OFID), Suleiman Jasir Al-Herbish.

"During the meeting, the two sides discussed the cooperation in the sphere of investments, as well as attracting low-interest and long-term loans to Kazakhstan," Kazakh Foreign Ministry said on July 28.

Al-Herbish underscored that OFID is interested in cooperating with Kazakhstan on issuing loans for the projects in the public sector and credit lines for the commercial sector.

He went on to add that OFID is ready to assist Kazakhstan in other priority spheres as well.

Sarybay, for his part, stressed that the government of Kazakhstan is ready for close cooperation with OFID in financing the development projects in the country.

He also proposed to cooperate in the implementation of the Green Bridge partnership program and EXPO-2017, emphasizing Kazakhstan's fruitful cooperation with international development institutions such as the Asian Development Bank, World Bank and others.

The OPEC Fund for International Development (OFID) is the development finance institution established by the Member States of OPEC in 1976 as a collective channel of aid to the developing countries. OFID has provided over $10 billion worth of aid, including over $6.7 billion worth of loans for the state projects and programs as of June 2014.

Edited by CN