EDB Chairman Becomes CFI Member

Igor Finogenov, Chairman of the Executive Board of the EDB, became a member of the Council of Foreign Investors (CFI), a consultative body under the President of the Republic of Kazakhstan. His appointment was announced at a plenary session of the CFI in Astana.

The CFI was founded in 1998 in order to facilitate a direct dialogue between the Government of Kazakhstan and investors, promptly address problems associated with investments, and improve the investment climate in the country. The CFI is headed by President Nazarbayev and comprises the heads of the Government, Presidential Administration and National Bank on the one part, and the heads of international economic and financial organisations, companies and corporations on the other part.

The principal criterion for membership of the CFI is direct investments of $100 million in Kazakhstan’s subsoil sector or $25 million in other sectors. The EDB has provided finance for various projects in Kazakhstan for a total of $450 million.