ASTANA—Kazakh Prime Minister Olzhas Bektenov met with Japan Bank for International Cooperation (JBIC) Chairman Hayashi Nobumitsu to discuss expanding financial cooperation and advancing joint investment projects on Aug.9.
Kazakh Prime Minister Olzhas Bektenov and Japan Bank for International Cooperation (JBIC) Chairman Hayashi Nobumitsu. Photo credit: Prime Minister’s press service
According to the Prime Minister’s press service, Japan is one of Kazakhstan’s major partners in East Asia and ranks among the country’s top 10 most prominent investors. Last year, the trade turnover between Kazakhstan and Japan increased by 10.5%, reaching $2.1 billion. From January to May, mutual trade amounted to $768 million. Since 1993, Japan has invested approximately $8 billion in Kazakhstan’s economy.
Bektenov noted JBIC’s role in fostering trade and economic ties between the two countries. The bank has financed 26 projects in Kazakhstan worth $2.3 billion, spanning sectors such as energy, water supply, mining, and transport logistics.
Additionally, JBIC and the Development Bank of Kazakhstan plan to sign an Agreement of Intent to finance joint projects worth $200 million. These projects will focus on energy, renewable energy, transport, mechanical engineering, the food industry and other priority sectors.
Nobumitsu emphasized JBIC’s interest in green finance and transit financing, which aligns with environmental, social, and governance (ESG) principles.
During the meeting, Bektenov also expressed his condolences over the earthquake in southern Japan.
“I hope that this natural disaster does not result in human casualties and significant damage,” said Bektenov.
“Japan is our key trade, economic and investment partner. Today, Kazakh-Japanese relations flourishing within the framework of an expanded strategic partnership. The Government of Kazakhstan welcomes the opportunity to deepen cooperation and stands ready to support the implementation of joint projects,” he added.
