BAKU, Azerbaijan, February 16. Over the last decade, the European Bank for Reconstruction and Development (EBRD) has provided around 2.4 billion euros to support transport sector projects in Kazakhstan, Huseyin Ozhan, EBRD Head of Kazakhstan, told Trend.
"Our current portfolio of infrastructure projects in the country is 1.38 billion euros through 41 projects. 82 percent of them are in the public sector," he said.
According to him, reliable transport and regional connectivity are vital for Kazakhstan.
"The EBRD has been supporting the national road operator, KazAvtoZhol, by financing the rehabilitation and upgrade of key roads between various regions of the country and by connecting Kazakhstan with neighboring countries," Huseyin Ozhan said.
As he noted, the EBRD has played a major role in organizing financing for the construction of the 66-kilometer BAKAD ring road around the city of Almaty and brought the deal to a financial close, making this the largest public-private partnership (PPP) project in both Kazakhstan and Central Asia. It is also the first PPP project in the region to have been structured with the involvement of international advisers and through an open, international competitive process.
"In 2021, the EBRD facilitated better regional and international connectivity for air travelers by arranging a loan to develop key infrastructure at Almaty International Airport. The biggest-ever private investment in airport infrastructure in Kazakhstan and the region will help boost operations at the busiest airport in Central Asia," he said.
In addition, Huseyin Ozhan pointed out that the bank has helped the national airline, Air Astana, construct the first aircraft maintenance facility in the country and in the whole of Central Asia. It has also provided the national carrier with liquidity support to boost its resilience, which was affected by the pandemic.
"Various financing facilities provided by the EBRD to Kazakhstan’s national railway company, Kazakhstan Temir Zholy (KTZ, Kazakhstan Railways), helped it improve operational efficiency and introduce energy-saving measures across the railway network," he added.
Meanwhile, with 10 billion euros invested in the country to date through 317 projects, Kazakhstan is the EBRD’s largest and longest-running banking operation in Central Asia.