Olzhas Bektenov and Nikolai Podguzov discuss major infrastructure projects
Astana, 05 September 2024. – Olzhas Bektenov, Prime Minister of Kazakhstan, met with Nikolai Podguzov, Chairman of the Eurasian Development Bank’s (EDB) Management Board, to discuss opportunities for expanding investment cooperation and the EDB’s role in infrastructure projects.
Olzhas Bektenov and Nikolai Podguzov highlighted the EDB’s significant investment activity in Kazakhstan. Since the start of 2024, the EDB has financed projects in various sectors totalling over US $900 million. In 2023 Kazakhstan received US $1 billion in investments, and by the end of this year, investments are expected to increase significantly, reaching US $1.4–1.6 billion.
The EDB’s priority projects in Kazakhstan include the implementation of cycling and continuous mining technology for coal, the construction of solar power plants, the reconstruction and expansion of the Astrakhan–Mangyshlak water pipeline, and the construction and reconstruction of highways.
Olzhas Bektenov underscored the Eurasian Development Bank’s role as one of Kazakhstan’s key partners and a reliable source of investment.
“In his state-of-the-nation address, the head of our state outlined goals to tackle critical infrastructure challenges. The government is now working on large-scale modernisation and construction of engineering, transport, social and digital infrastructure. We are ready to enhance cooperation with the Bank on mutually beneficial terms and are interested in jointly implementing projects that are vital to the nation’s economy,” said Olzhas Bektenov.
Nikolai Podguzov reaffirmed the Bank’s commitment to strengthening collaboration on major investment projects.
The meeting also covered the Bank’s current investment portfolio, capital diversification and improvements in corporate governance.
Additional Information:
The Eurasian Development Bank (EDB) is a multilateral development bank 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.
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