Multilateral development banks funding of Kazakhstan nearly reaches $260M
Baku, Azerbaijan, August 1
By Nargiz Sadikhova - Trend:
Multilateral development banks (MDBs) have allocated funding worth of $2.721 billion during 2Q2019 to the CIS countries, Trend reports with reference to the report of Eurasian Development Bank (EDB).
Thus, the largest percentage of projects funding accounts for Kazakhstan (25 percent of total value) and Russia (25 percent). The main investor of Kazakhstan during the reporting period was European Bank for Reconstruction and Development (EBRD).
“The EBRD has allocated to Kazakhstan funding worth $184.2 million, whereas the only other bank which funded Kazakhstan during 2Q2019 was EDB, which allocated $73.5 million. Thus, a total of eight projects worth $257.7 million were funded in Kazakhstan in 2Q2019,” the report said.
“The largest percentage of funded projects in CIS (33 percent) account for financial sphere. The total volume of loans in this sphere amounted to $345.9 million. Thus, credit lines to support micro, small and medium business and trade funding were provided to Kazakh Bank CenterCredit,” said in the report.
“Furthermore projects worth $48.2 million were approved in the energy sector of Kazakhstan,” EDB noted.
“The transport and transport infrastructure sector is represented by EBRD’s loan to KazAutoZhol worth $106 million for reconstruction of a segment of Almaty - Nur-Sultan highway. The ‘natural resourses and mining industry is represented by future EDB loan worth $53.2 million to Altynalmas company to support their investments program,” the bank stated.
(1 USD = 384.84 KZT on August 1)
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