The EDB and Кazyna Capital Management have agreed on cooperation in the market of direct investment
Almaty, 27 February 2013. The Eurasian Development Bank (EDB) and Кazyna Capital Management JSC (KCM) signed today a Memorandum of Cooperation and Understanding. The document was signed by Kanat Dosmukametov, Deputy Chairman of the EDB Management Board, and Borisbiy Zhangurazov, Chairman of the KCM Management Board.
Taking into account the common objectives and goals in raising investments and implementing investment projects in EDB member states, including the Republic of Kazakhstan, the parties agreed «to cooperate and render mutual support in order to focus efforts on building the industrial and innovation capacity of the Republic of Kazakhstan», as well as on creating an environment conducive to sustainable economic development and deepening integration between the EDB member states.
The EDB and KCM agreed on information exchange on potentially interesting and attractive for investment projects in Kazakhstan and other EDB member states to jointly implement those, inter alia — through direct investment funds.
Additional Information
Кazyna Capital Management JSC (hereinafter referred to as KCM) is a subsidiary of the National Welfare Fund Samruk-Kazyna JSC. KCM is a Kazakhstan fund of funds engaged in developing the market of direct investments in Kazakhstan. Its key activity is raising foreign investments to create joint direct investment funds focusing on investing into enterprises with a high growth potential in dynamically developing sectors of the economy of Kazakhstan. Since November 2011, together with other development institutions, KCM has been under fiduciary management of the Ministry of Industry and New Technologies of the Republic of Kazakhstan to participate in implementation of the Governmental Program on Accelerated Industrial-Innovative Development (GPAIID) of the Republic of Kazakhstan. By today, the direct investment funds supported by KCM have invested in 9 projects on the territory of the Republic of Kazakhstan, including those in GPAIID priority sectors, totaling US$ 143 million.
More information about KCM is available at www.kcm-kazyna.kz
The Eurasian Development Bank is an international financial institution founded by Russia and Kazakhstan in January 2006 with the mission to facilitate the development of market economies, sustainable economic growth, and the expansion of mutual trade and other economic ties in its member states. The EDB’s charter capital exceeds US $1.5 billion. The member states of the Bank are the Republic of Armenia, the Republic of Belarus, the Republic of Kazakhstan, the Kyrgyz Republic, the Russian Federation, and the Republic of Tajikistan.
Read more about the EDB at https://www.eabr.org
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