President Tokayev and Odile Renaud-Basso of the EBRD Explore Further Cooperation Possibilities in Kazakhstan

NUR-SULTAN – Kazakh President Kassym-Jomart Tokayev and the European Bank for Reconstruction and Development President Odile Renaud-Basso discussed major infrastructure projects in road construction, renewable energy and hydro energy during their recent virtual meeting, reported the Akorda press service.

During the meeting. Photo credit: Akorda press service

Tokayev said the EBRD, which invested $925 million in Kazakhstan in 2020 to support the country’s fight against the pandemic, is a strategic partner for Kazakhstan.

Overall, the bank has invested over $9 billion in the Kazakh economy through more than 280 projects to foster its market reforms and business initiatives. Support of small and medium enterprises has been a particular focus of the bank’s activity in Kazakhstan. 

According to Tokayev, the projects will make a significant contribution to the development of priority sectors in the economy. 

The EBRD also recently extended the small and medium sized businesses development and women’s entrepreneurship support programs with the Kazakh government until 2025. 

In September 2020, the bank launched a $30 million Green Economy Financing Facility (GEFF) to support green investments in Kazakhstan and to promote gender inclusive green finance and small private sector companies. It is also expected to help Kazakhstan reduce its greenhouse gas emissions and build a carbon neutral economy going forward.

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