Tokayev discusses record EBRD investment in Kazakhstan with bank president

Tengrinews.kz – President Kassym-Jomart Tokayev met with President of the European Bank for Reconstruction and Development (EBRD) Odile Renaud-Basso, according to Akorda.

During the meeting, held on the sidelines of the 38th plenary session of the Foreign Investors' Council, the two discussed prospects for cooperation between Kazakhstan and the international financial institution in the coming years.

Tokayev expressed his appreciation to the EBRD leadership for its contribution to Kazakhstan's economic development.

"We are united by a strategic partnership. Kazakhstan is one of the Bank's key partner countries, and this cooperation fully aligns with our long-term policy. Our partnership has been developing successfully for many years," Kassym-Jomart Tokayev said.

As noted during the meeting, over the past 30 years the EBRD has invested more than 11 billion euros in Kazakhstan through 354 projects, making the country one of the Bank's largest partners in the region.

The EBRD's current portfolio in Kazakhstan includes 131 projects with a total value of more than 3.1 billion euros.

The President welcomed the signing of the Framework Partnership Agreement between the Government of Kazakhstan and the EBRD, aimed at expanding cooperation to support the country's sustainable development.

Tokayev said Kazakhstan is currently implementing an ambitious reform agenda designed to build a more diversified, competitive, and technologically advanced economy.

Photo by the Akorda press service

Odile Renaud-Basso praised Kazakhstan's favorable investment climate and the country's structural economic reforms, saying they provide a strong foundation for achieving its long-term strategic goals.

"For us, Kazakhstan is one of the most important countries where we operate. This year we are seeing a very high level of investment activity. Agreements have already been signed for projects worth more than $1 billion. Taking into account projects currently under preparation, we expect the total volume of investments this year to reach 1.3 billion euros. This will be the highest level of investment in the history of our operations in Kazakhstan," the EBRD President said.

Renaud-Basso reaffirmed the Bank's readiness to continue supporting Kazakhstan in developing infrastructure, transport connectivity, irrigation, and the energy sector.

The EBRD also intends to place significant emphasis on supporting the private sector, promoting small and medium-sized enterprises, and financing investment projects. Investment in critical raw materials has been identified as one of the Bank's priority areas.

"The parties also emphasized the importance of expanding cooperation in digitalization and artificial intelligence. The EBRD stands ready to support the development of Kazakhstan's innovation ecosystem, contributing to the digital transformation of the country's economy," Akorda said.

As previously reported, Tokayev highlighted Kazakhstan's key advantage for foreign investors during the Foreign Investors' Council meeting.

On July 2, Astana hosted the 38th plenary session of the Foreign Investors' Council. Following the event, President Tokayev presented state awards to several participants in recognition of their significant contribution to Kazakhstan's economic development and their long-standing efforts to enhance the country's investment attractiveness.

Among those awarded the Order of Dostyk (Friendship), Second Class, was EBRD President Odile Renaud-Basso.

Photo by the Akorda press service