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EBRD announces its 2012 plans for Kazakhstan

13 march 2012, 14:47
0
By Yaroslav Radlovsky ©
By Yaroslav Radlovsky ©
European Bank for Reconstruction and Development (EBRD) plans to finance projects worth Euro 450 million in 2012 alone, Head of the EBRD Astana-based representation office Ms. Anar Omarova said as quoted by KazTag Agency.

According to her, in 2011 the Bank financed a total of 14 projects worth Euro 289 million.

European Bank for Reconstruction and Development (EBRD) has already invested into the Kazakh economy over $ 5 billion, Interfax – Kazakhstan had quoted Finance Minister Bolat Zhamishev as saying early May 2011.

“If we take into account additional funds attracted through the Bank’s partners, the overall figure stands at over $14 billion, with $6.5 billion injected into the infrastructure, $3 billion in the banking sector, $2 billion in power generation and environment projects, and over $2.5 billion into industrial and agriculture projects. In the current year EBRD plans to invest into our economy a total of $1 billion. The Bank’s current obligations to invest into Kazakhstan in future to finance projects in various sectors make up $2.8 billion Euro”, the Minister told a briefing in Astana at that time.

The European Bank for Reconstruction and Development (EBRD) is the first international financial institution of the post Cold War period. It was established in 1991 in response to major changes in the political and economic climate in central and eastern Europe. Inaugurated less than two years after the fall of the Berlin Wall, the Bank was created to support the development of market economies in the region following the widespread collapse of communist regimes.

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