Tokayev conferred with the administrator of the EBRD
Heads Talk Business: Tokayev and Renno-Basso Discuss Kazakhstan-EBRD Cooperation
Hang on to your seats, folks! Kazakhstan's big cheese, President Kassym-Jomart Tokayev, recently had a powwow with Odile Renno-Basso, the honcho at the European Bank for Reconstruction and Development (EBRD). The meeting was all about exploring opportunities for Kazakhstan and the EBRD to join forces, alongside dishing on global economic hot potatoes.
Akorda reported that some serious progress has been made in strategic sectors, like small and medium-sized businesses, energy, and agriculture, over the years of cooperation. The Head Honcho was pumped about the EBRD's intentions to dive into joint projects, particularly those centered around Kazakhstan's green transition program. Renno-Basso was well impressed with Kazakhstan's investment potential and expressed the bank's keen interest in supporting the country's infrastructure development.
So, what's in the pipeline for Kazakhstan? Well, funding for the revamp of a 234-kilometer segment of the Aktau - Ulygai automobile road was given the green light. This road reconstruction is a game-changer for both domestic and international transit development, aiming to create a smoother ride by turning the highway into a four-lane wonder.
Renno-Basso couldn't help but sing the praises of the successful collaboration between the bank and Kazakhstan. Last year's investment volume clocked in at almost one billion euros, and in 2024, it's set to triple compared to 2023. The EBRD President also signaled readiness to keep on backing Kazakhstan in enhancing transport accessibility and the energy sector.
The EBRD's intentions are clear: roll out the green carpet for Kazakhstan's green transition program and bankroll infrastructure development projects. But, that's not all! The bank's sights are also set on healthcare infrastructure, aiming to expand and bolster services in key areas.
In a nutshell, the EBRD's agenda for Kazakhstan revolves around investing in green energy through the Just Energy Transition Partnership (JETP) and upgrading energy infrastructure to bolster reliability. They're also gearing up to revamp a crucial roadway to improve transit connectivity and establish healthcare infrastructure to better cater to the population. These initiatives form part of a broader partnership between Kazakhstan and the EBRD, aimed at sparking sustainable growth and fostering a greener Kazakhstan.
The European Bank for Reconstruction and Development (EBRD) expressed interest in supporting Kazakhstan's infrastructure development, particularly in sectors like transportation and energy, as part of their broader partnership to foster sustainable growth in the country. The EBRD's focus also includes funding healthcare infrastructure and upgrading energy infrastructure for reliability, as well as revamping a crucial roadway to improve transit connectivity, all within the framework of a green transition program.
