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Astana, Kazakhstan • 09 December 2022

Eurasian Development Bank Boosts Investments in Kazakhstan

At least $3.8 billion is planned to be invested in Kazakh projects until 2026

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Prime Minister of Kazakhstan
Prime Minister of Kazakhstan

Prime Minister Alikhan Smailov held a meeting with the Chair of the Board of the Eurasian Development Bank (EDB) Nikolai Podguzov today to discuss the preliminary results of the bank’s activities in 2022 and the plan for 2023, QazMonitor reports citing the prime minister’s press service.

The Eurasian Development Bank promotes the expansion of economic ties and comprehensive development of its member states: Kazakhstan, Russia, Armenia, Belarus, Kyrgyzstan, and Tajikistan.

This year, EDB increased investments in projects in Kazakhstan to $1.2 billion, which exceeds the planned indicators and performance of the previous year. In 2023, about $1.1 billion more is planned to be directed to the priority sectors of the country's economy.

Alikhan Smailov, who is also chair of the board of EDB, said the bank needs to “continue in the same dynamics to move forward and increase the pool of projects.”

According to Nikolai Podguzov, at least $3.8 billion is planned to be invested in Kazakh projects until 2026.

"Next year, the funding priorities will be the projects aimed at the development of logistics infrastructure, provision of water resources, food and energy security, and improvement of environmental performance," Podguzov said.

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