Almaty, 23 August 2011. The Eurasian Development Bank (EDB) signed a memorandum of cooperation with the National Company Pavlodar Social Entrepreneurship Corporation (Pavlodar SEC).
In accordance with the memorandum, the parties agree to cooperate on investment projects implemented by Pavlodar SEC in Pavlodar Oblast, including possible financing of such projects by the Bank.
The EDB experts believe that Kazakhstan’s participation in the Customs Union makes Pavlodar Oblast important in terms of freight flows. This region is, on the one hand, a large regional transit hub and, on the other hand, an important local junction. Pavlodar Oblast is linked with other countries and Kazakhstan’s regions via the Southern Siberian and Central Siberian railroads, as well as via road, air, electronic, pipeline and river transport links.
Partnership between the Bank and Pavlodar SEC has significant prospects and synergetic potential due to the Bank’s role and mission of deepening integration processes and promoting the development of market economy in the EDB member states. This cooperation is expected to strengthen the region’s transport and transit potential and food security, create new jobs, increase the tax base, and, as a result, improve the quality of life of its population.
Additional Information
The National Company Pavlodar Social Entrepreneurship Corporation was set up in June 2011. Its main objective is to foster the economic development of Pavlodar Oblast through the consolidation of the public and private sectors.
- Read more about Pavlodar SEC at https://www.spkpavlodar.kz.
