EBRD, S Kazakhstan to coop in infrastructure development

The sides discussed joint projects and plans for future.

The Governor informed the high guest of the region’s socio-economic development.

In turn, Janet Heckman expressed readiness for joint work in agriculture, roads construction, utilities, infrastructure and airport construction, the press service of the regional administration says.

Tuimebayev pointed out high birth rate in the region and high density of population. 3mln people are residing currently in South Kazakhstan region, he said.

“For this reason, the population faces some legal problems in construction of utilities, namely, in water-, heat- and electricity supply lines. The government of the country allocates huge finances for these purposes. However, the funds of international organizations wouldn’t go amiss. We are ready to cooperate with the EBRD and jointly develop infrastructure of Shymkent, Turkestan and Kentau. There is a good opportunity to cooperate with this financial institution in national currency (tenge), because its interest rate is lower compared to other banks,” said Tuimebayev.

According to Janet Heckman, the EBRD is ready for cooperation with  South Kazakhstan region in abovementioned areas.

The European Bank for Reconstruction and Development is the international, intergovernmental, financial and loan organization.

Based in London, it was established as an international financial institution under an agreement as of May 29, 1990.

Kazakhstan and the EBRD established cooperation in 1992. Since then the Bank has invested 703mln euros in 28 various projects of the country.