EDB's investments in Kazakhstan exceed 40% of bank's portfolio
Baku, Azerbaijan, July 23
By Nargiz Sadikhova - Trend:
As of the beginning of July, the investments portfolio of Eurasian Development Bank (EDB) in Kazakhstan exceeded $1.6 billion, which is 42.1 percent of total portfolio of the bank, said Chairman of the EDB’s Management Board Andrey Beliyaninov, Trend reports with reference to Kazakh media.
He made the statement within the teleconference with representatives of business media. He stated that this is the second best indicator after 43.4 percent, which account for Russia.
“In turn, the annual volume of bank’s investments to Kazakhstan amounted to $517.52 million. Furthermore, as of July 1, 2019, total accumulated investments portfolio of the bank amounted to $8.025 billion, which is an increase by nearly $625 million compared to $6.9 billion of the same period of last year,” he said.
“Current investments portfolio of the bank equals to $3.7 billion. As of July 2019, the current investments portfolio increased by $272 million,” stated Beliyaninov.
He also mentioned that within the bank’s funding, development of Dolynnoye gold-bearing deposit in Karaganda region is planned. The funding is provided for the construction of a crushing and sorting complex as well as a maintenance and mechanical workshop, and for the construction of gold extraction plant with the annual capacity of 2.5 million tons of ore.
Beliyaninov stated that the construction of a Saryarka gas pipeline is among important projects of the bank. The construction is being implemented via government’s support and is to be finished before the end of 2019. The timeframe of the bank’s funding is 10 years.
(1 USD = 384.75 KZT on July 23)
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