05 May 2011 | 14:17

EBRD to invest to Kazakhstan $1 billion this year

By Yaroslav Radlovsky ©

European Bank for Reconstruction and Development (EBRD) has already invested into the Kazakh economy over $ 5 billion, Interfax – Kazakhstan quoted Finance Minister Bolat Zhamishev as saying. “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 told a briefing in Astana on Thursday. “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 said. Astana will be 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”. 2011 EBRD Annual Meeting and Business Forum

European Bank for Reconstruction and Development (EBRD) has already invested into the Kazakh economy over $ 5 billion, Interfax – Kazakhstan quoted Finance Minister Bolat Zhamishev as saying. “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 told a briefing in Astana on Thursday. “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 said. Astana will be 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”. 2011 EBRD Annual Meeting and Business Forum

Kazakhstan investment economy EBRD