New ADB country director for Kazakhstan assumes office
Baku, Azerbaijan, Sept. 13
By Elena Kosolapova – Trend: New Asian Development Bank (ADB) Country Director for Kazakhstan Giovanni Capannelli assumed office yesterday, the bank reported on Sep. 13.
“Making the economy more competitive, diverse, and resilient to adverse external factors is critical to create good jobs, sustain economic growth, and ensure equitable development in Kazakhstan,” Capannelli said. “I am looking forward to further enhancing ADB’s already very strong partnership with the government, other key stakeholders, and development partners to support delivering the county’s development priorities.”
He noted that ADB is keen to substantially expand its operations in Kazakhstan.
Mr. Capannelli, an Italian national, joined ADB in 2002. Prior to this appointment, he was ADB’s principal economist in the Central and West Asia Department and had held various other positions in ADB and the ADB Institute. He holds a doctoral degree and a master’s degree in Economics, both from the School of Economics of Hitotsubashi University in Tokyo, Japan, and a bachelor’s degree in Economics from the School of Political Economy of Bocconi University, Milan, Italy.
Since joining ADB in 1994, Kazakhstan has received around $4.4 billion in sovereign and nonsovereign loans for agriculture and irrigation, education, finance, transport, water supply and sanitation sectors. ADB’s supports helped the country reach out to its neighbors by opening up transport routes, fostering private enterprise, supporting social equality, and developing knowledge products. Regional cooperation initiatives under the Central Asia Regional Economic Cooperation Program remain an integral aspect of ADB operations in Kazakhstan.