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Kazakhstan leads in volume of investments from EDB

The Eurasian Development Bank’s (EDB) investments in Kazakhstan has totaled over $2.2bn, exceeding the plan by 70% after the first two years of the 2022/26 Strategy’s realization, Kazinform cites the press service of the Kazakh Prime Minister.

In a meeting with Kazakh Prime Minister Alikhan Smailov, EDB Chairman Nikolay Podguzov pointed out that Kazakhstan is the leader in terms of the amount of investments attracted from the Bank, with 104 projects for $5.6bn realized in different sectors, including soler and wind generation, modernization of manufacturing, chemical enterprises, thermal power stations, street lightning networks, and so on.

June this year, the Big Almaty Ring Road, financed by the EDB in partnership with the EBRD and IDB, was opened for traffic. Together with the international partners, the Bank is funding the expansion of modernization of the Almaty airport. Perspective projects also include the construction of Ayagoz-Bakhty railway line and a new border crossing on Kazakh-Chinese border, expected to increase the flow of goods by 20mln tons per year.

In addition, the Bank plans to take part in the reconstruction and expansion of the main water pipeline Astrakhan-Mangyshlak.

Smailov noted the key role the Bank takes in the country’s infrastructure development as well as confirmed the validity of the Bank’s approach taking into account the country’s national development goals.

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