EDB plans to invest over USD 1 bln in economy of Kazakhstan in 2016

"The EDB management board approved a draft plan of financing of the program of "KazTransGasAimak" on gasification and modernization of the facilities of Aktobe and Mangystau regions. The volume of financing will make USD 128.2 mln in tenge equivalent. The loan will be extended for ten years. According to the preliminary assessment, the amount of taxes and other types of payments to the budget of Kazakhstan thanks to the implementation of the project will be almost USD 200 mln. It is believed that the implementation of the project will allow to create 236 new jobs," the statement reads.

The EDB also approved the plan of the Ministry of Investment and Development of Kazakhstan on construction of the big ring road of Almaty. The road project is a pilot project of the public-private partnerships in this sphere implemented by the Ministry of Investment and Development. Implementation of the program will help sustainable economic growth because of development of the transport infrastructure of Almaty and allow to significantly improve the ecological situation in the region. The project belongs to the Transport Infrastructure sphere, which is one of the priority directions in the investment activity of the bank and has an important multiplicative effect on related sectors of the economy of Kazakhstan. The bank plans to invest about USD 100 mln.

The EDB also approved the project on construction of the plant on production of car parts in Ust-Kamenogorsk. It is planned that the volume of financing will be USD 181.89 mln extended for 11 years. The launch of the project will help the growth of the economy of Kazakhstan. The implementation of the project also carries an important social and economic meaning. The project is expected to help to create 4000 new jobs at the plant and over 8000 in related spheres.

The Eurasian Development Bank approved projects in the mining sector worth USD 100 mln that would be extended for 10 years. The projects provide for creation of 85 new jobs. The annual tax payments thanks to these projects are estimated at the level of 65.2 mln US dollars.

Another 8 projects amounting to over USD 600 mln are still considered by the Bank.