Kazakh President meets Eurasian Development Bank Chair

Kazakh President meets Eurasian Development Bank Chair

For the second consecutive year, the Eurasian Development Bank (EDB) has invested over $1 billion annually into Kazakhstan’s economy, said EDB Chairperson Nikolai Podguzov, reporting on the results of the bank’s performance to Kazakh President Kassym-Jomart Tokayev. The combined volume of EDB investments for 2022-2023 exceeded $4 billion, surpassing the plan for 2022-2026 by nearly 1.5 times. The share of Kazakhstan’s projects in the EDB portfolio continues to grow, reaching 59 percent by the end of 2023. The total amount of potential projects currently being reviewed by the EDB in Kazakhstan exceeds $3.5 billion for 2024. According to Podguzov, the bank plans to allocate investments towards such sectors as transportation infrastructure, thermal energy, renewable energy sources, agriculture, industry, and water resources. President Tokayev emphasized the importance of the infrastructure projects supported by the bank and welcomed the holding of the EDB’s Annual Meeting and business forum in Almaty this summer.