EBRD Board Directors to visit Kazakhstan and Kyrgyzstan

EBRD Board Directors to visit Kazakhstan and Kyrgyzstan

Baku, Azerbaijan, Sept.7

By Nargiz Sadikhova – Trend:

A delegation from the European bank for Reconstruction and Development (EBRD) Board of Directors will visit Kazakhstan and the Kyrgyz Republic from 8 to 14 September 2019, Trend reports with reference to EBRD.

The visit will help the Directors to assess the progress of reforms taking place in the two Central Asian states, familiarize themselves with the Bank’s investments and meet a range of stakeholders.

Representatives from the Board of Directors will include:

- David Avarello, Director for Belgium, Slovenia and Luxembourg
- José Brito, Director for Portugal and Greece
- Doug Nevison, Director for Canada, Morocco, Jordan and Tunisia
- Per Sanderud, Director for Norway, Finland, Latvia and Lebanon
- Taskin Temiz, Director for Turkey, Romania, Azerbaijan, Moldova and the Kyrgyz Republic
- Leander Treppel, Director for Austria, Israel, Cyprus, Malta, Kazakhstan and Bosnia and Herzegovina
- Frans Weekers, Director for The Netherlands, China, Mongolia, North Macedonia
- Alain Beauvillard, Alternate Director for France
- Massimo Carnelos, Alternate Director for Italy
- Pablo Gasos, Alternate Director for Spain and Mexico
- Jane Macpherson, Alternate Director for the EIB
- Masaya Otsuka, Alternate Director for Japan
- Artem Shevalev, Alternate Director for Switzerland, Ukraine, Liechtenstein, Turkmenistan, Serbia, Montenegro and Uzbekistan.

During the visit to Kazakhstan, the Board Directors will meet Prime Minister of Kazakhstan Askar Mamin, First Deputy Prime Minister, Minister of Finance and EBRD Governor Alikhan Smailov, Governor of the National Bank Erbolat Dossaev, Minister of Energy Kanat Bozumbayev and Minister of Industry and Infrastructure Development Roman Sklyar.

The EBRD delegation will visit the country’s two major cities, Nur-Sultan and Almaty, and also hold meetings with the senior management of the Kazakh state holding JSC Samruk-Kazyna and Astana International Finance Centre. The Board Directors will visit projects financed by the EBRD and meet the diplomatic and international business community as well as civil society organizations.

The Bank is a major investor in Kazakhstan and has a wide presence in the country, with two Resident Offices in Nur-Sultan and Almaty as well as five local offices for outreach in the remote areas of the country. It has, to date, invested over €8.1 billion ($ 9.1 billion) through 261 projects in the national economy.

The EBRD’s mission in the country is to further improve the investment climate, which will help stimulate foreign investors’ and partners’ confidence in Kazakhstan and create a strong basis for continued international cooperation.

Through its investments and policy dialogue activity the Bank is actively working with the authorities on the modernization and diversification of the national economy. It is also helping the private sector to play a more significant role in the Kazakh economy and will provide ongoing support to the country’s drive to secure its position as a regional renewable energy leader.

During the visit to the Kyrgyz Republic, the Board Directors will meet Prime Minister of Kyrgyz Republic Muhamedkaly Abylgaziev, Minister of Economy and EBRD Governor Sanjar Mukanbetov, Minister of Finance Baktygul Jeenbaeva and Chairman of the National Bank Tolkunbek Abdygulov. The EBRD delegation will visit projects financed by the EBRD and meet the diplomatic and business community and civil society organisations.

The EBRD has invested over €744 million in the economy of the Kyrgyz Republic, with the majority of investments supporting private entrepreneurship. The Bank is actively working with the authorities on the mitigation of climate change related risks, including the provision of an uninterrupted water supply to households. The EBRD is paying special attention to the rehabilitation of public infrastructure and further increasing support to SMEs in the country.

The EBRD is the largest institutional investor in Central Asia, with close to €13.4 billion ($ 14.7 billion equivalent) committed to 807 projects in a variety of sectors, from infrastructure to agriculture, with a focus on private-sector development.


Follow the author on twitter: @nargiz_sadikh

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