European bank president to visit Kazakhstan

President Odile Renaud-Basso of the European Bank for Reconstruction and Development (EBRD) will visit Kazakhstan today. On this trip, Ms.

European bank Kazakhstan

Photo: AFP/Getty

President Odile Renaud-Basso of the European Bank for Reconstruction and Development (EBRD) will visit Kazakhstan today.

On this trip, Ms. Renaud-Basso will meet with government leaders including President Kassym-Jomart Tokayev, EBRD Governor Alikhan Smailov and National Bank Governor Erbolat Dosaev among others. During this visit, President Renaud-Basso is due to sign new development project contracts with the goal of developing sustainable infrastructure, green economy initiatives and post-COVID-19 SME business support.

Of particular salience is the EBRD’s investments in Kazakhstan’s green economy transition. The initiative will combine foreign investment with policy engagement in order to develop a supportive regulatory framework suitable for sustainable energy use, thus decreasing Kazakhstan’s carbon footprint across all sectors. Examples of green energy projects are Nur-Sultan’s initiative to develop nuclear energy stations and implementations of energy-efficient LED lamps for Atyrau city’s street lighting.

Investing in green economy financing will not only strengthen Kazakhstan’s role in the international effort addressing climate change, but also serve as catalyst for creating conditions that will attract private companies to invest in the economy at large. Expect the ERBD’s continued financial support to enhance Kazakhstan’s investment climate, particularly in agriculture, energy and industrial sectors, further amplifying the nation’s positive macroeconomic outlook.

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