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The country strategy of the Eurasian Development Bank

Objective 1.

Development of all types of physical infrastructure

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Priority 1.1.

Modernising and constructing hydroelectric facilities and grid infrastructure

Energy development will help improve energy sustainability throughout the region. The EDB will negotiate investment projects in hydroelectricity and power transmission with the nation’s government and international stakeholders. Potential water and energy initiatives in Central Asia include investment projects in Kazakhstan, which in turn are aimed at providing comprehensive solutions to water supply issues across the region

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Priority 1.2.

Developing transport infrastructure to improve connectivity between the region’s countries

The development of road and rail networks and the modernisation of its airports should improve connectivity and mobility between the Bank’s member states. Developing transport corridors in Kazakhstan is critical for Eurasian integration. Another important objective is the development of infrastructure for alternative transport and logistics routes for exports and goods in transit along the East–West and North–South routes

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Priority 1.3

Ensuring access to health care, education, water supply and high-speed internet

The country’s sustainable development demands that people have access to health care, education, water supply and high-speed internet. The EDB will communicate with public and local authorities and actively cooperate with international institutions to identify financing options for infrastructure projects

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Priority 1.4

Developing tourism clusters

Tourism is another economic priority for Kazakhstan; the sector could mobilise additional investment in the country and create jobs. Tourism will become a new economic driver and one of the most profitable and labour-intensive sectors, with a huge multiplier effect on related sectors and economic integration by attracting tourists from the Bank’s member states. Realising this potential would require significant investment in tourism infrastructure, including roads, services and landscaping, and the EDB could be a source of such funding.

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Objective 2

Development of competitive innovative industries

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Priority 2.1

Developing sectors that promote the achievement of SDGs and the objectives of the Sustainable Economic Growth National Project

The EDB plans to implement industrial development projects, evaluating their impact on achieving SDGs and the objectives of the Sustainable Economic Growth National Project, such as industrial and innovative development, the development of the oil and gas, chemical, energy and mining sectors, and the promotion of non-primary exports.

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Priority 2.2

Establishing and developing industrial enterprises in the country

Establishing and modernising industrial enterprises will create jobs, improve productivity and diversify the economy. The Bank will support projects involving foreign direct investment in industry and innovative production, primarily from the Bank’s member states.

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Objective 3

Food security and agricultural development

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Priority 3.1

Improving agricultural productivity

The EDB’s objective over this strategy period is to intensify the development of agribusiness by funding projects that enhance productivity, facilitate raw material processing and increase the added value of products. The Bank will prioritise projects focusing on domestic and foreign food markets with sustained and extensive demand

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Priority 3.2

Supporting agricultural processing enterprises

Agricultural processing in Kazakhstan will help maintain the added value of end products within the country, increase export revenues and create jobs. The EDB will consider financing projects in this area through its Technical Assistance Fund

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Priority 3.3

Developing a commodity distribution network and establishing wholesale logistics centres

Создание сети оптово-распределительных центров является важным для обеспечения продовольственной безопасности региона. Establishing a network of wholesale distribution centres is integral to ensuring food security in the region. Commodity distribution networks improve transparency and accelerate flows of information, commodities and money by providing affordable logistics and financial services. During the 2022–2026 strategy period, the EDB will actively consider implementing key integration mega-projects, including the common commodity distribution network and the construction of wholesale distribution centres.

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Objective 4

Development of financial markets

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Priority 4.1

Developing accessible financial services

Задачей ЕАБР в рамках реализации Страновой стратегии будет являться обеспечение доступности финансовых услуг, развитие конкуренции между коммерческими банками РК, стимулирование выхода на рынок новых инвесторов и эмитентов и, как следствие, привлечение дополнительного капитала на финансовые рынки. The EDB’s Country Strategy aims to improve the accessibility of financial services, promoting competition between Kazakhstan’s commercial banks, encouraging new investors and issuers to enter the market and, consequently, mobilising additional capital for financial markets. The Bank plans to provide funding to Kazakhstan’s financial institutions for on-lending to real sector projects, including those with an integration effect or in sectors that contribute significantly to SDGs.

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Priority 4.2

Promoting the integration of the EDB member states’ financial markets

The EDB plans to assist projects that foster the development and diversification of financial instruments traded in its member markets and increase the number of securities issuers. To promote integration in the banking sector, the EDB will support projects aimed at allowing borrowers from one member state to access markets in other member states to secure funding and offer securities, including those denominated in national currencies. The EDB plans to continue to act as a payment agent and implement projects that support trade finance by providing targeted credit facilities to financial institutions in Kazakhstan.

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Objective 5

Promotion of the transition to a green economy and ESG practices

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Priority 5.1

Supporting decarbonisation projects – financing and technical assistance for ESG-oriented projects in infrastructure, energy and industry

Projects in infrastructure, energy and industry will focus on establishing renewable energy facilities, promoting efficient energy consumption, enhancing the energy efficiency of buildings and industrial plants, improving pollution prevention and control, creating infrastructure for clean drinking water, fostering green transportation, and implementing environmentally efficient and/or adapted production technologies and processes.

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Priority 5.2

Supporting projects that facilitate the efficient use of natural resources – financing and technical assistance for ESG-oriented projects in extractive industries, agriculture and water use

Projects in extractive industries, agriculture and water management will promote energy efficiency, pollution prevention and control, sustainable water and wastewater management, the environmentally sustainable management of living natural resources and land, and the conservation of terrestrial and aquatic biodiversity.

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Priority 5.3

Supporting projects to create infrastructure for the development of ESG services

Projects to develop a comprehensive system for business accounting and evaluation of ESG factors, and the promotion of “greening” services, will focus on establishing digital marketplaces.

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EDB Investment Portfolio

As of February 2024

108 projects in eleven sectors:
Financial sector
Other infrastructure
Machinery and engineering
Other sectors
Chemical sector

16 April 2024
The petrochemical industry is a high-tech sector with a significant multiplier effect. It produces four out of every five items commonly used by people today. Currently, the industry is undergoing global structural changes, presenting significant opportunities for Eurasian economies. The Bank’s latest report titled Eurasian Petrochemical Industry: Opportunities for Deeper Processing outlines blocks of priority measures to unlock available potential. These include a clustering policy, additional focus on low-tonnage petrochemical production, and the implementation of circular production mechanisms. Unleashing the Eurasian region’s potential will make the petrochemical industry an effective way to address “path dependence” by enhancing process stages, promoting technological advancements and securing a foothold in the global division of labour.
12 April 2024
The Eurasian Development Bank (EDB) has released its latest Macroeconomic Review for the Bank’s six member states.
29 March 2024
Dauren Rakhimzhanov, Managing Director of the Eurasian Development Bank’s (EDB) Directorate of Digital Initiatives, participated in the United Nations International Telecommunication Union’s (ITU) Regional Development Forum for CIS, organised with support from Kazakhstan’s Ministry of Digital Development, Innovations and Aerospace Industry.
20 March 2024
The Eurasian Development Bank (EDB) has released a report titled Infrastructure in Eurasia: Short- Term and Medium-Term Trends. Eurasian countries  have incorporated the United Nations Sustainable Development Goals (SDGs) into their economic policies. However, their achievement is impeded by the significant deficit and high wear and tear of infrastructure. Transportation, logistics, energy, telecommunications, water supply and wastewater infrastructure suffers from inadequate investment. Rapid urbanisation, the active adoption of new technologies and climate change are driving new requirements for infrastructural development. The directions of trade flows are shifting, leading to the creation of new transportation corridors and energy links.
18 March 2024
Olzhas Bektenov, Prime Minister of Kazakhstan, met with Nikolai Podguzov, Chairman of the Eurasian Development Bank’s (EDB) Management Board, to explore prospects for bolstering investment cooperation.
16 February 2024
The Eurasian Development Bank (EDB) has released the latest Macroeconomic Review for its six member states. This regular publication provides a roundup of the macroeconomic situation and projects near-term developments in the member countries. The review also contains detailed statistics on key macroeconomic indicators.
12 February 2024
Kassym-Jomart Tokayev, President of Kazakhstan, met with Nikolai Podguzov, Chairman of the Eurasian Development Bank’s (EDB) Management Board. Nikolai Podguzov provided President Tokayev with an overview of the Bank’s performance and outlined its plans for the forthcoming period. He highlighted that the EDB’s annual investment in Kazakhstan's economy has exceeded US $1 billion for the second consecutive year.
27 January 2024
Marat Karabayev, Kazakhstan’s Minister of Transport, visited the Eurasian Development Bank’s (EDB) headquarters in Almaty to discuss the strategic development of roads and explore opportunities for leveraging funds to support infrastructure projects.
16 November 2023
In the summer of 2023, Central Asia was faced once again with water shortages and the significant impact these have on agriculture. The sector relies on irrigation, consuming up to 80% of available water, and has a poor track record with regard to the efficient use of water resources. The irrigation infrastructure is over 50 years old. More than half of all irrigated land has become salinised and 40% of water is lost through irrigation canals. A new EDB study entitled “Efficient Irrigation and Water Conservation in Central Asia” outlines ten practical steps for preserving irrigated land potential and promoting water conservation. The list includes four recommendations for adoption at the regional level and six at the national level. The measures are designed to save enough water each year to support sustainable development. Implementing the measures will require collaboration between governments, farmers and multilateral development institutions. The need for urgent action is intensified by the anticipated reduction in the flow of the Amu Darya River
13 October 2023
Tigran Sargsyan, Vice Chairman of the Eurasian Development Bank’s (EDB) Management Board, and Arman Shakkaliyev, Kazakhstan’s Minister of Trade and Integration, held a working meeting in Astana
  • Reconstruction of Almaty CHPP 3 into a combined cycle power plant with an increase in capacity to 500 MW

    Construction of the Saryarka gas pipeline (Phase I, Kyzylorda–Astana)

  • Expansion and modernisation of Almaty International Airport

Almaty Headquarters

220 Dostyk ave., Almaty, 050051, Republic of Kazakhstan

Astana Representative Office

55/20 Mangilik El Avenue Block C4.1, 2nd floor Astana,
Z05T3D0, Republic of Kazakhstan

Outlook for the key macroeconomic indicators as of December 2023

GDP growth
Stimulation of investments by government authorities. Growth in manufacturing and services
Year-end inflation
The easing of external price pressures as well as monetary policy measures
TONIA, year’s average
Continued reduction of the base rate on the back of steady slowdown in inflation
KZT/USD exchange rate, year’s average
Decline in oil prices