The EBRD plans to double its investment volume in Kazakhstan projects in 2024

Deputy Prime Minister-Minister of National Economy Nurlan Baybazarov met with Huseyin Ozhan, deputy manager of the European Bank for Reconstruction and Development (EBRD) for Central Asia and Mongolia.

The parties discussed the status of ongoing projects and the EBRD's plans for financing new ones, noting the important role of attracted investments for sustainable socio-economic development of the country.

As Huseyin Ozhan noted, this year the bank plans to at least double its investment volume in the economy of Kazakhstan. The EBRD is working on a major project with the Kazakhstan electricity grid operating company KEGOC, which will help improve the reliability of electricity supply in the western part of the country.

Earlier, the largest territorial project was signed - the construction of new wastewater treatment facilities in Aktobe city; funds were allocated for the construction of new production facilities for the leading producer of table salt, Araltuz JSC, as well as for supporting women's and youth entrepreneurship. In June 2024, ahead of schedule, a new passenger terminal opened at Almaty Airport, the construction of which was also financed by the EBRD. The bank also participated in the IPO of the national carrier, Air Astana

According to Nurlan Baibazarov, Kazakhstan intends to expand cooperation with the EBRD both at the national and regional levels, and supports the bank's desire to invest in the private sector.

"Our country is ready for mutually beneficial work with the EBRD to attract investments for the implementation of projects in energy, transport and logistics, the development of renewable energy sources and private business," the Deputy Prime Minister said.

Since the beginning of its activities in Kazakhstan, the EBRD has invested €10.2 billion in the country's economy within 324 projects. Currently, the bank's project portfolio in Kazakhstan has 121 projects worth more than €2.9 billion.