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Kazakhstan, EBRD talks issues of supporting business

Kazakhstan Materials 24 February 2024 15:10 (UTC +04:00)
Kazakhstan, EBRD talks issues of supporting business
Madina Usmanova
Madina Usmanova
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ASTANA, Kazakhstan, February 24. Kazakhstan and the European Bank for Reconstruction and Development (EBRD) have discussed measures to support business, according to Trend reports.

This topic was discussed during the XI annual meeting of the Coordination Committee of Cooperation Programs between the Ministry of National Economy of Kazakhstan and the EBRD.

During his speech, First Vice Minister of National Economy Timur Zhaksylykov noted that within the framework of the Business Advisory Services Program and the Women in Business Program, which are implemented by the EBRD and co-financed by the Ministry of National Economy, comprehensive support is provided to entrepreneurs.

"The programs include both financial and non-financial support instruments. Programs are aimed at creating a favorable environment for doing business and are a catalyst for the dynamic development of enterprises. In addition, a powerful reserve of qualified and competent consultants has been created to provide a wide range of relevant business services," he said.

In turn, head of the EBRD Advisory Services Program in Central Asia and Mongolia Simone Zeh Atanasovski noted that the Bank launched a mentoring program for women entrepreneurs for the first time in Kazakhstan, and the country is one of the first to launch a special program to support innovative startups, Star Venture. The EBRD's Youth in Business program will also begin operating here.

In addition, according to EBRD Deputy Director for Kazakhstan Askar Namazbayev, in 2023 alone in Kazakhstan, the Bank invested and mobilized more than 330 million euros in 21 projects, and more than 90 percent of this amount was allocated to private sector clients.

Meanwhile, the bank has invested about 9.8 billion euros in 317 projects in Kazakhstan.

Kazakhstan is the EBRD's largest and longest-running Central Asian banking business.

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