EDB’s investment portfolio hits $7.2bn in Kazakhstan

The Eurasian Development Bank’s (EDB) investment portfolio in Kazakhstan consists of 116 projects, including 43 active ones worth 2.9 billion US dollars, Kazinform News Agency reports.

During a meeting of the EDB Council on Friday, Nikolay Podguzov, Chairman of the EDB Management Board, reported on the key indicators of the 2022/26 strategy.

In 2024, the Bank’s investment portfolio reached 16.5 billion US dollars, while the volume of investments rose by almost 700 million US dollars year-over-year to 2.4 billion US dollars.

The Bank also saw its projects aligned with the SDGs surpass 30%, twice its target, as well as its technical assistance project portfolio increase 76% to a historic high.

According to Podguzov, the Eurasian Development Bank’s (EDB) investment portfolio in Kazakhstan hit 7.2 billion US dollars and consists of 116 projects, including 43 active ones worth 2.9 billion US dollars. There was also growth in investments in Armenia, Kyrgyzstan and Tajikistan. The Bank’s aggregate investment portfolio totals 305 projects.

In the first half of this year, investment deals worth almost 2.1 billion US dollars were announced. The potential amount of high-level design readiness projects to be signed exceeds 4 billion US dollars.

It’s worth noting that Uzbekistan officially joined the agreement on the establishment of the EDB. During the meeting, Uzbek Investment, Industry and Trade Minister Laziz Kudratov expressed readiness for active interaction with the Bank.

Following the meeting, a number of decisions were adopted, including those relating to organizational and financial performance. The EDB Council agreed to appoint Kazakh Premier Olzhas Bektenov as its Chairman and Kazakh Finance Minister Madi Takiyev as the Deputy Chairman.

Earlier, Kazakh Prime Minister Olzhas Bektenov said that Kazakhstan’s GDP growth reached 6% over the past five months this year.