Nikolai Podguzov presents at Kazakhstan’s Foreign Investors’ Council
Astana, 31 October 2024. Nikolai Podguzov, Chairman of the Management Board at the Eurasian Development Bank (EDB), delivered a presentation titled The Efficient Use of Water Resources for Security and Economic Growth at the annual Foreign Investors’ Council, chaired by Kassym-Jomart Tokayev, President of Kazakhstan.
This year’s council meeting centred on Kazakhstan’s New Investment Cycle.
In his address, the head of the EDB emphasised the pivotal role of international development banks in advancing infrastructure investments. “The Eurasian Development Bank is one the leading international banks active in Kazakhstan. Over the last three years, we have invested more than US $3 billion in projects across the country,” he noted.
Nikolai Podguzov underscored the need to invest in the water sector, vital to the peace, health and economic growth of both Kazakhstan and the wider region. “We see numerous opportunities for investment in infrastructure and industry. The region loses about 40% of water used for irrigation and up to 55% of drinking water,” he stated.
The EDB Chairman endorsed Kazakhstan’s plans to build new water reservoirs and reconstruct the existing ones, modernise irrigation canals and improve drinking water supplies. He expressed confidence that joint efforts would facilitate the achievement of the goals set out in Kazakhstan’s 2024–2030 Concept for the Development of the Water Management System.
“By 2030, water and sanitation projects in Kazakhstan could require up to US $5 billion in investment. We stand ready to provide the necessary financing to develop essential infrastructure crucial for Kazakhstan’s sustained economic growth,” he stressed.
Nikolai Podguzov also highlighted the potential for establishing a regional cluster dedicated to water equipment production. A collaborative approach among partners to ensure local equipment supply could accelerate industrialisation and enhance the country’s role in the international division of labour.
In conclusion, Nikolai Podguzov mentioned the EDB’s joint project with Kazakhstan’s Ministry of Water Resources and Irrigation and the United Nations Development Programme to address pressing water challenges.
The EDB is already supporting the reconstruction and expansion of the Astrakhan–Mangyshlak water pipeline, the sole centralised source of water for several districts in the Atyrau and Mangistau regions. The Astrakhan–Mangyshlak water pipeline is on the list of the EDB’s mega-projects related to the Central Asian water and energy complex under its 2022–2026 Strategy and is regularly reviewed by the Bank’s Department of Research. The recent report on Drinking Water Supply and Sanitation in Central Asiaand other publications by the department are available in the relevant section on the Bank’s website.
Nikolai Podguzov, Chairman of the EDB Management Board, is one of the personal members of the Foreign Investors’ Council, chaired by the President of Kazakhstan.
Additional Information:
The Eurasian Development Bank (EDB) is an international financial institution investing in Eurasia. For more than 18 years, the Bank has worked to strengthen and expand economic ties and foster comprehensive development in its member countries. The EDB's charter capital totals US $7 billion. Its portfolio consists principally of projects with an integration effect in transport infrastructure, digital systems, green energy, agriculture, manufacturing and mechanical engineering. The Bank adheres to the UN Sustainable Development Goals and ESG principles in its operations. Kazakhstan accounts for almost 60% of the Bank’s investment portfolio.
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Photo credit: Akorda