President Tokayev Meets EDB Chairman to Discuss Expanding Investment Cooperation
Astana, The Gulf Observer: President of Kazakhstan Kassym-Jomart Tokayev received Nikolai Podguzov, Chairman of the Management Board of the Eurasian Development Bank (EDB), to review the Bank’s current activities and future investment plans in the country, according to media reports.
During the meeting, Mr. Podguzov informed the Head of State about the Bank’s performance and its strategic outlook. In 2024, EDB investments in Kazakhstan totaled USD 1.4 billion, with Kazakhstani projects now accounting for 60% of the Bank’s overall portfolio.
The EDB Chairman highlighted the early implementation of the 2022–2026 Country Strategy for Kazakhstan, noting that the Bank had already surpassed its planned investment targets, reaching USD 3.8 billion. He added that projects worth more than USD 4.5 billion are currently under consideration for 2025.
According to Mr. Podguzov, over USD 1 billion will be directed toward key sectors, including the modernization of infrastructure and energy facilities, the development of renewable energy sources, transport and logistics infrastructure—such as the reconstruction of national roads—as well as investments in industry and digital technologies.
President Tokayev commended the EDB’s substantial contribution to Kazakhstan’s economic development and expressed the country’s commitment to further strengthening bilateral cooperation with the Bank.
In a related development, it was previously announced that the Islamic Development Bank (IsDB) will finance the construction of four water reservoirs in Kazakhstan, underscoring the country’s ongoing efforts to enhance its water management infrastructure.
