The EDB plans to invest US $3.8 billion in Kazakhstan’s projects over the next five years
Nur-Sultan, 28 September 2021. Today, the President of Kazakhstan Kassym-Jomart Tokayev received the head of the Eurasian Development Bank (EDB) Nikolai Podguzov. The head of the EDB said that, over the next five years, the Bank plans to provide US $3.8 billion for projects in Kazakhstan – this is the amount invested by the Bank over 15 years of its operations.
Nikolai Podguzov informed President Tokayev about the Bank’s performance and medium-term plans, as well as macroeconomic forecasts for the coming period. Bank experts project Kazakhstan to demonstrate the highest economic growth among the EAEU countries.
He also told about the main directions of the EDB Strategy for 2022–2026. The new strategy aims to fundamentally strengthen the Bank’s role in promoting Kazakhstan’s economic development, foster the achievement of the Sustainable Development Goals, and support projects of social importance.
In addition, the EDB intends to become a driver of private and strategic investment in the country to the tune of more than US $10 billion. The key areas of investment will be green and socially responsible economy, food security, infrastructure, and promotion of Kazakhstan’s exports.
The head of the EDB presented the President key mega-projects aimed at promoting the social and economic development of Kazakhstan and other EAEU countries. These include the North–South and Europe–Western China transport corridors aimed at boosting cross-border freight and business opportunities in the countries; a single commodity distribution system to ensure food security and reduce costs for businesses; and the upgrade of the Central Asian water and energy complex. The EDB’s total investment in these projects is expected to reach US $1.2 billion.
President Tokayev noted the EDB’s active role in the development of integration processes and the importance of these projects for Kazakhstan and the EAEU as a whole.
Additional Information:
The Eurasian Development Bank (EDB) is an international financial institution promoting integration and development in its member countries. For 15 years, the Bank has worked to strengthen and broaden economic ties and foster comprehensive development in its member countries – Armenia, Belarus, Kazakhstan, the Kyrgyz Republic, Russia, and Tajikistan. The EDB's charter capital totals US $7 billion. The EDB’s portfolio mainly consists of projects with an integration effect in the areas of transport infrastructure, digitalisation, green energy, agriculture, industry, and mechanical engineering. The Bank adheres to the UN Sustainable Development Goals and ESG principles in its operations.
The EDB Media Centre:
Azima Sapargaliyeva +7 (777) 750 00 08 (Almaty)
Sergey Gorbachev +7 (916) 727 22 00 (Moscow)