EBRD plays special role in Kazakhstan economy modernization - Nazarbayev

15:54, 20 May 2011

ASTANA. May 20. KAZINFORM The modernization of Kazakhstan economy is an immense undertaking in which a special role is being played by the EBRD as the biggest investor in our infrastructure and the non-commodity sectors of our economy. President of Kazakhstan Nursultan Nazarbayev has said it at the plenary session of the EBRD Annual Meeting in Astana today.

"Ambitious projects are being implemented with the Bank's participation - for example, development of the Western Europe-Western China International Transit Corridor and the modernization of electricity grids", the President said.

"In the past couple of decades, the Bank has rightfully been the biggest investor in the Eurasia region, not only providing resources of its own but also mobilizing significant investment from other sources", N. Nazarbayev noted and added that Kazakhstan is taking all possible measures in order to create the most favorable investment climate in the region.

"As is clear from the World Bank's report for 2010, Kazakhstan is now a recognized leader as regards the introduction of reforms favorable to business activities. In the world rating of countries with the most favorable business climate Kazakhstan is 59^th out of 183, and we are working hard to significantly improve that position", the Head of State stressed.

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