EDB Finances Export Infrastructure Development Project in Kazakhstan

The Eurasian Development Bank commenced financing a project to develop grain export from Kazakhstan. In accordance with a loan agreement signed by Kambar Shalgimbayev, Deputy Chairman of the EDB Executive Board, and Igor Yermolenko, General Director of KAZEXPORTASTYK Holding Company, the Bank will extend an $18.9-million loan for five years.

The purpose of this project is to boost export of grain to Turkey, Italy, Iran and other major consumers of Kazakh hard wheat by developing flour milling, storage and export infrastructure in North Kazakhstan Oblast.

This project is in line with the EDB strategy and will contribute to the sustainable development and diversification of Kazakhstan’s economy by supporting agriculture and grain export infrastructure.