Eurasian Development Bank boosts investment in Kazakhstan projects in 2022

Prime Minister of Kazakhstan and Chairman of the Board of the Eurasian Development Bank (EDB) Alikhan Smailov held a meeting with the Chairman of the Board of the EDB, Nikolai Podguzov.

They discussed preliminary results of the EDB activities in 2022 and the work plan for the next year. For example, this year the Bank increased investments in projects in the country to $ 1.2 billion, which exceeds the planned indicators and performance of the previous year. In 2023 about $1.1 bn more is planned to be directed in the priority sectors of the country's economy.

Alikhan Smailov noted the importance of the increase in the number of cooperative projects.

"We need to continue in the same dynamics to move forward and increase the pool of projects," Prime Minister said.

In turn, Nikolai Podguzov said that in total, at least $3.8 billion is envisaged for implementation of projects in Kazakhstan until 2026.

"Next year, the funding priorities will be the projects aimed at development of logistics infrastructure, provision of water resources, food and energy security, and improvement of environmental performance," he said.

For reference: the Eurasian Development Bank is an international financial institution which carries out investment activities in the Eurasian area. The EDB promotes expansion of economic ties and comprehensive development of its member states: Kazakhstan, Russia, Armenia, Belarus, Kyrgyzstan and Tajikistan. The Bank's portfolio is dominated by large integration projects in transport infrastructure, digital systems, green energy, agriculture, industry and mechanical engineering.

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