ASTANA, Kazakhstan, January 20. Kazakhstan has offered the European Bank for Reconstruction and Development (EBRD) to consider the possibility of reducing the borrowing interest rate, Trend reports.
This proposal was made by the Minister of National Economy of Kazakhstan Alibek Kuantyrov during a meeting with the President of the EBRD Odile Renaud-Basso in Davos.
The parties also discussed issues of further bilateral cooperation. The Kazakh minister expressed gratitude for promoting the economic transformation of Kazakhstan, including by providing investment financing and consultations.
The interlocutors also touched upon the issue of financing a socially important infrastructure project for the construction of a multidisciplinary hospital with 630 beds in Kokshetau city.
Meanwhile, the EBRD will provide senior debt financing for design, construction, outfitting and maintenance of a 630-bed multidisciplinary hospital in Kazakhstan's Kokshetau.
The project will be undertaken by Renell Kokshetau LLP under a 7-year public private partnership contract signed with Kazakhstan on 22 December 2022.
According to the bank, approval of the loan is scheduled for March 6, 2024.
The total cost of the project is 467 million euros, the EBRD will finance 110 million euros.
Furthermore, EBRD's current project portfolio in Kazakhstan reaches 2.8 billion euros as of October 31, 2023, based on the implementation of 114 active portfolio projects.
Investments in sustainable infrastructure projects account for 70 percent of the overall portfolio (1.97 billion euros). The industry, commerce, and agribusiness sectors also benefit significantly from EBRD's investments, with projects worth approximately 689 million euros making up around 24 percent of the portfolio.
Furthermore, the EBRD's support for the financial sector of Kazakhstan, with investments in financial institutions comprising 5 percent of the portfolio, amounts to 148 million euros.