More than half of EDB investments to be directed to Kazakhstan in 2023

In 2023, more than half of the Eurasian Development Bank investments are planned to be directed to the implementation of projects in Kazakhstan. An additional US$1.1 billion is expected to be invested in priority industries of the country's economy. The funds will be used for such projects as the modernization of Almaty CHP-3, the construction of a power station based on a combined cycle plant in the Turkistan region, along with the construction of wind farms in the Zhambyl and Kostanai regions. It is reported that within the five-year strategy the Eurasian Development Bank plans to allocate at least US$3.8 billion. Thus, the EDB will act as a driver for attracting private and strategic co-investors to the country. Overall, the EDB will be able to attract over US$10 billion to the economy of Kazakhstan, experts note. The key areas of investment include the green and socially responsible economy, food security, infrastructure, the achievement of the UN Sustainable Development Goals, as well as the promotion of Kazakhstan’s export. It bears noting that in 2022 the Bank implemented projects in the field of industry, food, transport, renewable energy, and the financial sector.