Kazakh President receives Chairman of Management Board of Eurasian Development Bank

The President held a meeting with Nikolay Podguzov, Chairman of the Board of the Eurasian Development Bank (EDB), during which key points of interaction between the bank and Kazakhstan were discussed, El.kz reports citing Akorda.

Nikolay Podguzov informed about the EDB's activities and plans, mentioning significant investments in the economy of Kazakhstan.

Over the past two years, the EDB's investments in Kazakhstan have exceeded $1 billion annually.

The bank's total investments in 2022-2023 reached $4.2 billion, of which 59% are Kazakhstani projects.

Plans for 2024 include potential projects worth more than $3.5 billion, aimed at developing key sectors such as transport, energy, industry, agriculture and water resources.

The EDB intends to support the development of Kazakhstan's financial market by introducing new instruments for financing infrastructure projects.

The bank also plans to invest up to $10 million in grants and up to $400 million in projects aimed at digitalizing water accounting and developing irrigation equipment in Central Asia.

The President expressed support for the bank's initiatives and noted the importance of the upcoming EDB Annual Meeting and Business Forum in Almaty.

These events will be devoted to key issues of the development of the water and energy complex of Central Asia, transport infrastructure and financial instruments.

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