ASTANA – Kazakhstan attracted $14.2 billion in sovereign financing operations to invest in development projects through 271 transactions since 2008, the Eurasian Fund for Stabilization and Development’s (EFSD) press service reported on Feb. 15.
According to the report, international financial organizations and development agencies have implemented more than 3,800 sovereign financing transactions worth $90.6 billion in the Eurasian region in the reporting period. In terms of attracting funding, Kazakhstan is second only to Uzbekistan with $20.9 billion in the Eurasian region.
Transport, energy and human development were the main areas of investment financing. The funds were mainly directed to projects in energy, food security, infrastructure development, healthcare and digitalization sectors.
A methodology for building the Sovereign Finance Database (SFD), presented by the EFSD, is a quantitative and qualitative analysis of sovereign finance operations in 11 countries of the Eurasian region from 2008 to 2022.
The EFSD was established by Armenia, Belarus, Kazakhstan, Kyrgyzstan, Russia, and Tajikistan in 2009 to overcome negative crisis consequences, provide long-run sustainability and foster economic integration of EFSD member countries.
The fund provides financial credits for budget support and/or balance-of-payments support, available to governments only; investment loans, provided either to EFSD member states or companies; and grants to finance government programs in the social sector.
All funds were allocated by 16 international financial organizations and development agencies, including the World Bank, Eurasian Development Bank, EFSD, European Investment Bank, International Development Bank, International Monetary Fund, as well as Japan International Cooperation Agency, Turkish Cooperation and Coordination Agency, and the U.S. Agency for International Development.