BAKU, Azerbaijan, September 19. The Eurasian Development Bank (EDB) intends to invest more than $1.1 billion in the Republic of Kazakhstan in 2023, the bank told Trend.
As the bank noted, as part of the implementation of the strategy for 2022–2026, the volume of investments will amount to $3.8 billion.
"Of course, the EDB is constantly working with potential clients from Kazakhstan. So, for example, as part of the implementation of the mega-project "Eurasian Transport Framework", the Bank is financing the development of a feasibility study for the construction of the Ayagoz-Bakhty railway line and a new border crossing on the Kazakh-Chinese border. Upon completion of the feasibility study, the EDB intends to provide financing directly for the construction of the railway and the transition," the bank said.
The bank assumes that new infrastructure will increase cargo turnover by 20 million tons per year.
"In April, the results of a study conducted by the EDB, "Food Security and Unlocking the Agro-Industrial Potential of the Eurasian Region," were presented, which could form the basis for determining priorities for the development of food infrastructure in Kazakhstan during the implementation of the Eurasian commodity distribution system mega-project," the bank said.
The bank noted that, as part of the development of the water and energy complex in Central Asia, the EDB is currently considering several new projects in the field of renewable energy in Kazakhstan, as well as a number of initiatives to modernize existing generation facilities. The results of the study will be presented in the near future, addressing issues of irrigation and water supply in the context of food security.
"In total, during the existence of the Eurasian Development Bank (EDB), Kazakhstan was one of the countries that initiated its creation, Over the course of 17 years, 104 projects were implemented in the republic for a total amount of $5.6 billion. Since the beginning of the year, investments in the Republic of Kazakhstan have exceeded $900 million. This year, among others, projects were launched in transport, energy, and the chemical industry. Kazakhstan ranks first in terms of the investment volumes of the Eurasian Development Bank," the bank added.