NUR-SULTAN – The European Bank for Reconstruction and Development (EBRD) supports new economic reforms occurring in Kazakhstan and proposed investing in renewable energy projects, said EBRD Vice President for Banking Operations Alain Pilloux during his Sept.14 meeting with Kazakh Prime Minister Alikhan Smailov, reported the latter’s press service.
“The government is now carrying out large-scale reforms initiated by the President to modernize the economy. They should significantly improve the well-being of our citizens. Therefore we welcome the EBRD engagement and support in this regard,” the Prime Minister said.
Smailov and Pilloux discussed what part the EBRD can play in the implementation of economic reforms and the plans for investment and cooperation in 2023. The Kazakh PM noted that in over 30 years of cooperation, the bank facilitated the implementation of more than 300 projects worth US$10 billion in the country.
For his part, Pilloux expressed the bank’s interest in financing the development of renewable energy sources in Kazakhstan, along with other projects.
According to Pilloux, “Kazakhstan can fully rely on the EBRD”. The institution is also interested in helping the country decarbonize the economy by 2060. EBRD considers the conversion of the Almaty CHP-2 thermal power plant from coal to gas to be the flagship project in this direction, which is an “extensive and important” project, with EBRD planning to invest substantial funds, Pilloux said.