EDB investments in Kazakhstan grows at faster rates

The volume of investments of the Eurasian Development Bank (EDB) in Kazakhstan in the first two years of implementation of the Strategy for 2022-2026 years may exceed the plan by 70% and amount to more than $2.2 billion. This became known during a meeting of Prime Minister of Kazakhstan Alikhan Smailov with the Chairman of the Board of the Bank Nikolai Podguzov. 

Nikolai Podguzov emphasized that Kazakhstan is a leader in the volume of investments attracted from the EDB. Thus, 104 projects worth $5.6 billion have already been implemented in various sectors. This includes the construction of solar and wind generation, modernization of enterprises in the manufacturing sector, chemical industry, cogeneration plants, street lighting networks, as well as the renewal of the fleet of railway rolling stock, development of companies in the agro-industrial complex sector, construction of airports, main gas pipelines, etc. 

In June this year, traffic was opened on the Big Almaty Ring Road, which was built with EDB financing in partnership with the European Bank for Reconstruction and Development and the Islamic Development Bank. Currently, the EDB together with international partners is financing the expansion and modernization of Almaty Airport. Along with these promising projects are the construction of the Ayagoz-Bakhty railroad line and a new border crossing on the Kazakhstan-China border. The new infrastructure is expected to increase cargo turnover by 20 million tons per year.

In addition, the Bank intends to participate in the reconstruction and expansion of the main water pipeline "Astrakhan - Mangyshlak". Taking into account the high social significance of the project it is planned to provide special financing terms. 

Alikhan Smailov noted the important role of EDB in the infrastructural development of the republic and emphasized the correctness of the Bank's approach, taking into account the goals of national development of the Republic of Kazakhstan.  

For reference: Eurasian Development Bank is an international financial organization that carries out investment activities in the Eurasian space. For more than 17 years EDB has been promoting the strengthening and expansion of economic ties and comprehensive development of member countries. The EDB's authorized capital is $7 billion. The main share of the EDB's portfolio is occupied by projects with integration effect in the areas of transport infrastructure, digital systems, green energy, agriculture, industry and mechanical engineering. The Bank's activities are guided by the UN Sustainable Development Goals and ESG principles.

#Alikhan Smailov #The Prime Minister of the Republic of Kazakhstan #Investments

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