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Nazarbayev proposed to EBRD

20 may 2011, 18:52
0
Nursultan Nazarbayev. Photo courtesy of akorda.kz
Nursultan Nazarbayev. Photo courtesy of akorda.kz
Kazakhstan President Nursultan Nazarbayev made a call to the European Bank of Reconstruction and Development (EBRD) today, May 20, when opening the meeting of the EBRD Board of Governors in Astana, Tengrinews.kz reports.

“I call the EBRD Board of Governors to consider investment projects in Kazakhstan, especially those involving advanced oil processing and facilitating diversification of Kazakhstan's economy. I would like to draw a special attention to technological development of our economy. It is not money or raw materials that make a difference between developed and developing nations. Their technological competency is what sets them apart. That is why I am asking you to prioritize the projects that facilitate development of research-and-engineering capacities of our economy,” Nursultan Nazarbayev said.

He called to increase the EBRD's presence in Kazakhstan.

“Participation in municipal development will help solve local infrastructure problems and balance economic development of the country's regions. Ability of the EBRD to co-finance joint projects with Kazakhstan banks, pension funds and other local investors is very important for us,” the Head of the State emphasized.

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.

Nursultan Nazarbayev's was not making a one way proposal: "Kazakhstan is also interested in participation in the projects of foreign countries together with the EBRD,” he said.

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