Baku, Azerbaijan, April 5
By Ali Mustafayev – Trend:
The European bank for reconstruction and development (EBRD) and the government of Kazakhstan identified key areas of cooperation required to continue joint efforts aimed at the modernization and diversification of the national economy of Kazakhstan, a source in the EBRD told Trend.
“A corresponding protocol was signed by the two parties in late 2017 and it will provide for the continuation of joint activities in attracting investments into infrastructure, the development of the financial and small business sectors, the stimulation of entrepreneurship and sustainable regional development,” Trend was told.
The source mentioned a three-year accord, which builds on the Partnership Framework Arrangement (PFA) between the Republic of Kazakhstan and the EBRD for Enhanced Cooperation for Promotion of Sustainable Development and Growth signed in May 2014.
“The PFA provided major impetus to joint activity between the EBRD and Kazakhstan especially in municipal infrastructure sector, where the combination of the Bank’s loans, TC (Technical cooperation) funds and the budgetary support unlocked new opportunities for important sector upgrades and improvements country-wide,” said the source.
The EBRD also develops a country strategy for each Central Asian state.