EDB Expands Cooperation with Kazakh Social Entrepreneurship Corporations

Kambar Shalgimbayev, Deputy Chairman of the EDB Executive Board, and Kerimzhan Bizhanov, Chairman of the Board of the Social Entrepreneurship Corporation of Almaty Regional Development (SECARD), signed a memorandum on cooperation.

The main goal of this cooperation is to assist joint medium and long-term investment projects in infrastructure, high-tech and high-value-added production, and creation of new jobs in industry, energy, transport, agribusiness and other sectors. The memorandum stresses that the EDB and SECARD have common interests and intend to co-finance selected investment projects and export transactions. The parties also agreed to exchange information on investment projects and share experience and knowledge in this area.

“Partnership with the Social Entrepreneurship Corporation of Almaty Regional Development is in line with the goals and tasks of the Eurasian Development Bank”, comments Kambar Shalgimbayev. “We are interested in cooperating with SECARD in joint projects which correspond to the Bank’s mission and are important for the development of the social sector and production infrastructure in Almaty and the Almaty region”.

The EDB has similar agreements on cooperation with the Kazakh national companies Kazagro, Saryarka, Yertys and Samgau.

Additional Information

The Social Entrepreneurship Corporation of Almaty Regional Development is a 100% state-owned joint-stock company founded pursuant to the order of the President of Kazakhstan and resolution of the Akim (Governor) of Almaty for the purpose of enhancing the competitiveness of Almaty’s economy, export potential and attractiveness as a target for investment, creating systemic conditions for encouraging market players, launching competitive production based on the principle of public-private partnership, addressing social problems, creating and developing social and production infrastructure, and improving state asset management.