BAKU, Azerbaijan, November 25. French Development Agency (AFD) Group hopes to finance its first project in Kazakhstan in 2024, Vincent Caupin, Head of Central Asia Office of AFD, told Trend in an exclusive interview.
"During the visit of President of France Emmanuel Macron to Kazakhstan, the two governments signed an intergovernmental agreement on French Development Agency (AFD) Group activities in the country. This will allow the three entities of the group to operate in Kazakhstan," he said.
According to him, AFD can provide long-term financing for public investment in many sectors, from health to water and energy.
"Proparco (French financial institute) will support the private sector through loans to private financial institutions and companies. Expertise France (French public agency) can provide technical expertise to government bodies to implement public policies. We focus on supporting policy to tackle climate change and to adapt the economy and the environment to a warmer climate," he said.
Caupin noted that AFD will finance projects and programs based on the government of Kazakhstan requests.
"For instance, a first visit from our technical experts in the health sector took place in early October to identify needs and to what extent we can provide added-value to address them. Similar visits will be organized in the coming weeks on water/sanitation/irrigation topics and on energy," he said.
AFD Group thinks that in order to reach the target of carbon-neutrality by 2060, the Kazakh economy will have to diversify, and the Agency stands ready to contribute to the financing of this dynamic. Without financing for innovative approaches, there is no economic growth.
"The first step is to have these technical visits and understand the needs and the specificities of Kazakhstan. We will then be able to finance relevant projects. We hope to be able to finance a first project in 2024," Caupin noted.