05.09.2024, 12:41 49596

Olzhas Bektenov discusses implementation of large infrastructure projects with EDB head Nikolay Podguzov

Olzhas Bektenov discusses implementation of large infrastructure projects with EDB head Nikolay Podguzov
Images | primeminister.kz
Prime Minister of Kazakhstan Olzhas Bektenov held a meeting with the Chairman of the Board of the Eurasian Development Bank Nikolai Podguzov. The issues of expansion of investment cooperation and EDB participation in the implementation of infrastructure projects were considered, primeminister.kz reports.

Olzhas Bektenov and Nikolai Podguzov noted the high investment activity of the Eurasian Development Bank in Kazakhstan. Since the beginning of this year EDB has already financed projects in various sectors of the economy for a total amount of more than $900 million. At the same time, $1 billion has been invested in Kazakhstan in 2023. By the end of this year it is expected that the volume of investments will be significantly increased and will reach $1.4-$1.6 billion.

The list of EDB priority projects implemented in Kazakhstan includes introduction of cyclic-flow technology of coal mining, construction of solar power plants, reconstruction and expansion of the main water pipeline "Astrakhan-Mangyshlak", construction and reconstruction of motorways.

Olzhas Bektenov emphasised that the Eurasian Development Bank is one of the important partners and reliable sources of investment.

The Head of State in his Address to the people of Kazakhstan outlined the tasks to solve priority infrastructure problems. Now the Government is carrying out large-scale work on modernisation and construction of engineering, transport, social and digital infrastructure. We are ready to expand cooperation with the Bank on mutually beneficial terms and are interested in joint implementation of projects important for the economy of the country," Olzhas Bektenov said.


In turn, EDB Chairman Nikolay Podguzov reported on the readiness of the Bank to strengthen co-operation in the implementation of major investment projects.

The parties also discussed the issues of the current investment portfolio of the Bank, diversification of the capital structure, improving the quality of corporate governance.

For reference: Eurasian Development Bank is an international financial organisation established in 2006. The Bank's authorised capital is $7 billion. The sectoral structure of the current investment portfolio is as follows: 21.7% energy, 18.1% transport, 27.5% mining, 9.2% financial sector, 5.8% infrastructure, 2.8% machine building, 3.3% agro-industrial complex, 7.3% chemical industry, 1.1% construction, 3.2% other sectors.
 

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