EBRD invested in Kazakhstan’s economy up to $8bn - News | BNews

EBRD invested in Kazakhstan’s economy up to $8bn

12 February, 15:47 296
EBRD invested in Kazakhstan’s economy up to $8bn

In 2017, the Bank invested 25 projects for the amount of 700 million dollars.

The European Bank for Reconstruction and Development invested in Kazakhstan more than 8 billion dollars, director of the EBRD for Kazakhstan Agris Preimanis at an expanded collegium of the Ministry of National Economy of Kazakhstan, BNews.kz correspondent reports.

"We invested more than 8 billion dollars in the economy of Kazakhstan. Last year was very successful for us, we invested 700 million dollars in 25 projects," he said.

According to him, 47% of all projects qualify as "green" projects. More than a quarter of the projects are directed to the SME sector, using second-tier banks.

"The EBRD does not work only on investments, we are very closely working on reforms and over the tariff methodology in the natural monopolies sector," he said.

Agris Preimanis also said that the EBRD has become the largest investor outside Kazakhstan's oil and gas sector due to this volume of investments. The main direction of financing became economic diversification. The Bank also actively supports Kazakhstan's strategy for reforming and enhancing the competitiveness of industry, including through the financing of renewable energy projects.

The European Bank for Reconstruction and development is the international financial organization, which funds projects in 35 countries from Central Europe to Central Asia, as well as the countries of the Southern and Eastern Mediterranean.

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