Kazakh PM Meets with EDB Chairman to Discuss Expanding Investment Cooperation

Astana, The Gulf Observer: Prime Minister Olzhas Bektenov held a meeting with Nikolai Podguzov, Chairman of the Management Board of the Eurasian Development Bank (EDB), to discuss the enhancement of investment cooperation and EDB’s participation in the development of Kazakhstan’s infrastructure projects, according to a statement from NHC.

During the meeting, both parties highlighted the EDB’s active role in financing projects in Kazakhstan. Since the beginning of the year, the bank has invested over $900 million in various economic sectors. This follows a successful investment of $1 billion in 2023. Looking ahead, the volume of EDB investments in Kazakhstan is forecasted to increase, with expectations ranging between $1.4 billion and $1.6 billion by 2024.

Key priority projects for the EDB in Kazakhstan include the introduction of in-pit crushing and conveying technology for coal mining, the construction of solar electric plants, the reconstruction and expansion of the Astrakhan-Mangyshlak water supply line, and major road construction and reconstruction projects.

Prime Minister Bektenov underscored the significance of the EDB as a crucial investment partner for Kazakhstan, praising the bank as a reliable source of funds for the country’s development initiatives.

In addition to discussing future investments, the meeting addressed the current investment portfolio, the diversification of the bank’s capital composition, and efforts to improve corporate governance within the EDB.

This discussion marks a continuation of Kazakhstan’s collaboration with the EDB, as the country seeks to drive sustainable economic growth and infrastructure development.