President Tokayev Meets Eurasian Development Bank Chief, Reaffirms Strategic Investment Cooperation
Astana, The Gulf Observer: President Kassym-Jomart Tokayev on Friday held a meeting with Nikolai Podguzov, Chairman of the Management Board of the Eurasian Development Bank, to discuss expanding investment cooperation and strengthening long-term economic partnership.
During the meeting, President Tokayev congratulated the Bank on the occasion of its 20th anniversary, underscoring its vital role as a key partner in the implementation of Kazakhstan’s strategic development projects.
Chairman Podguzov briefed the President on the country’s positive economic outlook, noting that Kazakhstan’s GDP is projected to grow by 5.5 percent in 2026. He highlighted that this growth would be driven by sustained investment activity, major infrastructure projects, stable domestic demand, and strong social indicators.
The President was also informed that under the Bank’s 2022–2026 strategy, total investments in Kazakhstan have reached $9.2 billion, with $5.2 billion already disbursed—equivalent to the total investment made over the previous 15 years. Key sectors benefiting from these investments include manufacturing ($2.1 billion), energy ($1 billion), transport infrastructure ($1 billion), and the financial sector ($1.1 billion).
The discussions further emphasized support for digital transformation and the integration of artificial intelligence, with President Tokayev noting that the Bank’s expanding geographical footprint could facilitate new initiatives and strengthen regional economic integration.
At the conclusion of the meeting, both sides reaffirmed their commitment to enhancing strategic partnership and advancing investment cooperation to ensure the sustainable development of Kazakhstan’s economy.
