Kazakh President Receives the Chairman of EDB

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Kazakh President, kassym jomart Tokayev (R) met with the Chairman of the Board of the Eurasian Development Bank, Nikolai Podguzov (L)

Nur Sultan, 28 October 2021 (TDI): Kazakh President, Kassym Jomart Tokayev received the Chairman of the Board of the Eurasian Development Bank (EDB), Nikolai Podguzov.

Eurasian Development Bank:

The Eurasian Development Bank is a regional development bank. It is established by the Russia and Kazakhstan in 2006. Armenia, Belarus, Kyrgyzstan, and Tajikistan, are also member states.

During the meeting, the President was informed about the results of EDB work. The medium-term plans of EDB are also discussed along with the macroeconomic forecasts for the coming period. According to the bank’s experts, Kazakhstan is expected to have the highest dynamics of economic growth among the Eurasian Economic Union, (EAEU) countries.

 

Kassym-Jomart Tokayev was also familiarized with the Strategy of the Eurasian Development Bank for 2022-2026. In particular, Nikolai Podguzov told the President about key megaprojects. These projects are aimed at promoting the socio-economic development of Kazakhstan and other EAEU states.

The Bank will also assist in the implementation of projects aimed at the formation of transport corridors “North-South”, “Europe – Western China”. It is aimed at the creation of a unified distribution network and the modernization of the water and energy complex of Central Asia. The total volume of EDB investments in these projects is planned at $ 1.2 billion. In general, the bank intends to invest at least $ 3.8 billion in the economy of Kazakhstan until 2026.

Kassym Jomart Tokayev emphasized the active role of the EDB in the development of integration processes. He noted the importance of the implementation of the designated projects for Kazakhstan and the entire EAEU.

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