EBRD and Kazakhstan will work on long-term decarbonisation strategy for power sector
The roadmap for the decarbonisation strategy was signed by Kazakhstan’s Minister of Energy Nurlan Nogayev and by EBRD President Odile Renaud-Basso during her first visit to Central Asia’s largest state.
The European Bank for Reconstruction and Development (EBRD) and Kazakhstan have agreed to develop a long-term cooperation strategy to achieve carbon neutrality of the country’s power sector by 2060. The accord will further cement Kazakhstan's status as a regional renewable energy leader in Central Asia.
The roadmap for the decarbonisation strategy was signed by Kazakhstan’s Minister of Energy Nurlan Nogayev and by EBRD President Odile Renaud-Basso during her first visit to Central Asia’s largest state, the EBRD’s official website reads.
The EBRD and Kazakhstan will cooperate, among other things, on the development of renewable energy and the carbon market, the enhancement of the electrical grid and the decommissioning of old thermal capacity. The Bank is committed to financing renewable energy projects implemented through an auction mechanism in order to promote competitive pricing and to stimulate investment in renewable energy.
The EBRD President said: "We are pleased to help Kazakhstan develop its energy sector in line with the global decarbonisation agenda. Our partnership in the area of sustainable energy began over a decade ago and, based on the country’s achievements to date, Kazakhstan is right on track to achieve the new ambitious target of carbon neutrality".
Kazakhstan’s Minister of Energy added: "Longstanding cooperation with the EBRD is helping us achieve our development goals in the energy sector. Jointly, we search for innovative solutions to enable the sector’s sustainable development and this is an important foundation for our present and future work. Today’s memorandum will shape our cooperation for years to come".
The EBRD remains a committed supporter of the country’s renewable energy drive, with 14 projects worth US$ 535 million financed to date. In 2020 alone, and despite the Covid-19 pandemic’s effect on the economy, the EBRD allocated US$ 53 million to supporting the construction of a 100 MW wind farm near the city of Zhanatas and a 76 MW solar power plant in the Karaganda region.
To date, the EBRD has invested more than Ђ8.13 billion in the economy of Kazakhstan through 280 projects. Support for small businesses is particularly important and is in line with the EBRD’s country strategy for Kazakhstan.
Source: Kazinform News Agency
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Kazakhstan and Wallonia Strengthen Partnership in Key Economic Sectors
Images | gov.kz
Ambassador of Kazakhstan to Belgium Roman Vassilenko held a meeting with Pascale Delcomminette, CEO of the Wallonia Export and Investment Agency (AWEX) and Wallonia-Brussels International (WBI), Ministry of Foreign Affairs of the Republic of Kazakhstan reports.
The parties discussed prospects for expanding trade, economic and investment cooperation between Kazakhstan and the two Belgian regions, with particular focus on priority areas such as critical minerals and metallurgy, petrochemicals, agriculture and agri-tech, logistics and the development of the Trans-Caspian International Transport Route (Middle Corridor), digitalization and artificial intelligence, green energy, as well as science, education and innovation.
The Ambassador noted that Kazakhstan remains a reliable partner of the European Union and Belgium, consistently implementing economic reforms aimed at diversifying the economy and attracting investment. It was emphasized that Kazakhstan plays an important role in ensuring global resource security, being the world’s largest producer and exporter of uranium and a key supplier of critical raw materials.
Special attention was given to the development of industrial cooperation and the creation of value-added chains. Kazakhstan is interested in attracting Walloon companies possessing advanced technologies and expertise in metallurgy, chemical industry, pharmaceuticals and engineering solutions. The interlocutors also discussed issues of digital transformation, development of artificial intelligence and the green transition, including projects in the field of renewable energy.
As noted by Pascale Delcomminette, trade between Kazakhstan and Wallonia is experiencing dynamic growth; however, it still holds significant potential for further expansion and qualitative development.
At the conclusion of the meeting, the parties emphasized the importance of strengthening direct contacts between business communities, including through the organization of business missions, sectoral forums and B2B meetings with the participation of Walloon companies, highlighting the key role of AWEX in promoting cooperation.
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Kazakhstan Strengthens Dialogue with U.S. Business and Expert Community
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On the sidelines of the Spring Meetings of the World Bank Group and the International Monetary Fund, the Kazakh delegation, led by Representative of the President of the Republic of Kazakhstan for negotiations with the United States on priority issues of bilateral cooperation, Erzhan Kazykhan, held a series of meetings with representatives of the American expert and business communities, Ministry of Foreign Affairs of the Republic of Kazakhstan reports.
During discussions with U.S. think tanks, the Kazakh side outlined key political and economic priorities, highlighting the adoption of the new Constitution as the foundation of the country’s political modernization.
Ambassador Kazykhan noted that the recent referendum demonstrated a high level of public engagement in the country’s development processes. The constitutional reforms establish a solid institutional framework for further strengthening Kazakhstan as a dynamic and competitive state capable of responding to contemporary challenges. The new Constitution also enshrines an updated system of governance, preserving a strong presidency while enhancing the role of Parliament and increasing government accountability.
Particular attention was also given to measures aimed at improving the investment climate, strengthening the resilience of the financial system, and advancing the digital economy.
The parties exchanged views on practical aspects of expanding bilateral economic cooperation. Kazakhstan’s role as a reliable U.S. partner in Central Asia was reaffirmed, along with priority areas for American business engagement, including energy, mining, technology, finance, and infrastructure.
The discussions brought together representatives of U.S. political circles, leading think tank experts, and members of the business community. The session was moderated by Ambassador John Herbst, Senior Director of the Eurasia Center at the Atlantic Council.
A separate meeting of the U.S.-Kazakhstan Business Council was held at the U.S. Chamber of Commerce, bringing together senior executives from leading American companies, including Chevron, ExxonMobil, PepsiCo, Morgan Stanley, Citi, Nasdaq, and Meta.
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Special Envoy briefed participants on ongoing socio-economic reforms in Kazakhstan, underscoring the steady growth of the national economy and the country’s strong investment appeal. He noted that Kazakhstan’s GDP reached $300 billion last year, placing it among the world’s 50 largest economies.
Governor of the National Bank of Kazakhstan, Timur Suleimenov, separately highlighted the country’s achievements in ensuring macroeconomic stability, maintaining resilient public finances, and advancing reforms in the tax and banking sectors. These efforts position Kazakhstan as a key investment destination in Central Asia and a major transit hub across Eurasia.
The Kazakh side reaffirmed its commitment to further expanding cooperation with U.S. businesses and emphasized the consistent support of the country’s leadership for initiatives aimed at protecting investors’ rights and fostering a favorable business environment.
Following the meetings, both sides confirmed their mutual interest in deepening economic partnership and agreed to continue an active dialogue across all areas of bilateral cooperation.
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Kazakhstan and Türkiye need unified rail freight tariffs - Bektenov
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Kazakhstan and Türkiye need to continue efforts to establish unified tariffs in order to enhance the competitiveness of railway freight. This is what Kazakh Prime Minister Olzhas Bektenov said at the 14th meeting of the Kazakh-Turkish Intergovernmental Economic Commission in Astana, Qazinform News Agency reports.
The Head of the Government emphasized dynamic development and strategic character of the two countries’ cooperation in the field of transport and logistics.
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This is a tangible result of the trade and economic ties between the two countries. The volume of transportation along the Trans-Caspian International Transport Route exceeded 4 million tons," said Bektenov.
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