Eurasian Development Bank Broadens Co-operation with National Corporations of Kazakhstan

On 21 May, the Eurasian Development Bank signed a Memorandum on Co-operation with the National Company Social Business Corporation Yertys in Semei, Kazakhstan.

The main goal of co-operation between the two parties is to implement joint medium and long-term investment projects relating to infrastructure development; to promote high-tech, high-value-added products; and to create new jobs in the industrial, power, transport and other sectors in Kazakhstan.

The target area of this co-operation is financing of investment projects. The parties also agreed to exchange knowledge and experience gained in their respective areas of business.

«The growth of Kazakhstan’s economy in recent years was driven primarily by its energy and banking sectors, in which large national holding companies undertake the most sizable, multidimensional tasks. Establishing a partnership with a national corporation from Kazakhstan is fully in line with the objectives and tasks of the Eurasian Development Bank», said Kambar Shalgimbayev, Deputy Chairman of the EDB Executive Board. «We seek to attract private and international capital to strengthen economic and social infrastructure in Kazakhstan and the whole of the Central Asian region».

Last year, the Eurasian Development Bank secured similar co-operation agreements with Kazakhstan’s national companies Kazagro, Saryarka and Samgau.