EDB to boost investments in Kazakhstan up to $ 1.6 billion
Kazakh Prime Minister Olzhas Bektenov met with Nikolai Podguzov, the Chairman of the Management Board of the Eurasian Development Bank (EDB), to discuss widening of investment cooperation and EDB’s participation in the development of infrastructure projects, Kazinform News Agency reports.
The parties noted the EDB’s active investing in Kazakhstan. Since the beginning of the year, the bank financed over 900 million US dollars in projects in various economic sectors. Last year it invested 1 billion US dollars in Kazakhstan. The volume of investments is predicted to grow up to 1.4-1.6 billion US dollars in 2024.
Among the EDB’s priority projects in Kazakhstan are the introduction of a coalmining in-pit crushing and conveying technology, construction of solar electric plants, reconstruction and expansion of the Astrakhan -Mangyshlak water supply line, and construction and reconstruction of roads.
The Prime Minister said the EDB is an important partner and a reliable source of investments.
The parties also focused on the EDB's current investment portfolio, diversification of the capital composition, and improving corporate governance.
To note the Eurasian Development Bank (EDB) has decided to allocate funds to help eliminate the consequences of the massive floods in several regions of Kazakhstan; this year's floods became the largest natural disaster in the country over the past 80 years.