EDB to expand its presence in Kazakhstan

According to the memorandum, the EDB will finance investment projects of groups of companies of KazMunayGas JSC, including the “Project for the reconstruction and expansion of the main water pipe “Astrakhan-Mangyshlak”, Samruk-Energy JSC, KEGOC, KazTransGas JSC, including the “Project on financing Beineu-Shymkent Gas Pipeline LLP”, as well as Tau-Ken Samruk JSC.

In the framework of cooperation, the parties undertake to carefully select funded projects according to the criteria of compliance with international banking standards, socio-economic efficiency and development of integration processes.

Akhmetzhan Yessimov recalled that the EDB has already taken part in the largest infrastructure project in the history of independent Kazakhstan - the construction of the Saryarka gas pipeline, which covers the cities of Nur-Sultan, Karaganda, Temirtau, Zhezkazgan and about 2.7 million people from nearby 171 settlements.

“The Bank takes an active position in the implementation of joint investment projects in the region. Of particular importance among the projects is the construction of the Saryarka gas pipeline, the idea of ​​which belongs to Elbasy. The project is very important for us, as it will provide not only a reliable gas supply to the population and enterprises, but also improve the environmental performance of the northern and central regions of the country. This suggests that the Bank shares our vision of developing new directions in Kazakhstan”, Akhmetzhan Yessimov said.

At the beginning of this year, the Bank's investment portfolio amounted to 4.322 billion US dollars and includes 98 projects in six participating states. Among them are many joint projects with a group of Samruk-Kazyna JSC. These include projects in the field of infrastructure, energy, oil and gas industry and others.

“We are interested not only in volumes, but also in promising areas, in particular, energy. We have a plan, with the help of the Samruk-Kazyna Fund, to enter the markets of third countries that are members of our Eurasian Union so that we can develop industry and energy there. These include countries such as Tajikistan and Kyrgyzstan”, Andrei Belyaninov said.

It should be noted that Kazakhstan, along with Russia, is the largest participant in the Eurasian Development Bank, with a share of about a third of its authorized capital.

For reference: the Eurasian Development Bank is an international financial organization established by Russia and Kazakhstan in January 2006 with the aim of promoting the development of a market economy of the participating countries, their sustainable economic growth and the expansion of mutual trade and economic ties. The EDB's registered capital is 7 billion US dollars. The Bank's member states are Armenia, Belarus, Kazakhstan, Kyrgyzstan, Russia and Tajikistan.