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EBRD planning to invest up to $1 billion a year to Kazakhstan: EBRD’s President Thomas Mirow

21 may 2011, 19:23
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By Yaroslav Radlovsky ©
By Yaroslav Radlovsky ©
The European Bank for Reconstruction and Development (EBRD) plans to invest to Kazakhstan up to $1 billion a year, EBRD’s President Thomas Mirow told journalist in Astana today, Bnews.kz reported.
“In Kazakhstan we concentrate on energy, water, infrastructure, railways, motor ways and transport infrastructure projects. We have been working with the corporate sector, with small and middle-sized businesses. Just like last year, we hope to be able to invest at least $700 million - $1 billion annually into meaningful projects in Kazakhstan”, Mr. Mirow said.
European Bank for Reconstruction and Development (EBRD) has already invested into the Kazakh economy over $ 5 billion, Finance Minister Bolat Zhamishev said May 5.

“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”, the Minister elaborated.

When opening the meeting of the EBRD Board of Governors in Astana May 20, President Nazarbayev called the EBRD Board of Governors to consider investment projects in Kazakhstan, “especially those involving advanced oil processing and facilitating diversification of Kazakhstan's economy”.

Besides, Nursultan Nazarbayev suggested that the bank starts to extend loans in tenge. “I would like to draw your attention to development of the credit market nominated in our national currency. This step is very important for both Kazakhstan and the bank in the long-term perspective,” he said.
Astana has been hosting EBRD annual meeting May 20-21.

The Annual Meeting brings together the EBRD’s Board of Governors, namely the government ministers and other senior officials who represent the Bank’s shareholder countries and organisations. The Governors review the EBRD’s activities to support recovery in the region and give strategic guidance on the Bank’s operations in the period ahead. The Board of Governors sessions will be staged alongside the established Business Forum programme, launched this year under the theme “Supporting Markets – Asia Meets Europe”.

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