European Investment Bank: We Have Enough Money To Invest In Kazakhstan

European Investment Bank: We Have Enough Money To Invest In Kazakhstan

On the eve of the visit of the delegation of the European Investment Bank to Kazakhstan for discussion of future projects, Managing Advisor of the Bank for Central Asian countries Umberto Del Panta has given an interview to Kazinform.

“The European Investment Bank operates in three countries of Central Asia – Kazakhstan, Tajikistan and Kyrgyzstan. Compared to its neighbors Kazakhstan is more developed and has a high investment rating. Your country is rapidly developing and a positive image”, Umberto Del Panta said.

The EIB, according to Del Panta, has approved four investment projects to the overall amount of EURO 620 million. “These projects are loans provided by Kazakhstan Development Bank and Damu Fund for the private and state sector and for development of small and medium business. Also we have approved EURO 200 million for KazAgro”, he said.

The priority of the EIB in Kazakhstan is so-called “green” investments aimed at creation of green economy for small and medium businesses and agricultural companies.

These directions of the EIB will be discussed during the negotiations and meetings of the bank’s delegation with Kazakhstan ministries and national companies on February 20-24 in Astana.

The “green” investments are not only creation of wind power stations and renewable sources of energy. There are five sectors were EIB’s “green” investments can be implemented, according to the banker, such as efficient use of energy, use of renewable sources of energy, transport, water resource and waste management, agricultural foods, and forestry.

The exact fields where the EIB money will be invested will be determined together with Kazakhstan partners, said Del Panta.

“We have enough money to invest in Kazakhstan”, he said, and “Kazakhstan has multiples spheres were “green” investments can be made.

“The EIB provides loans mainly in Euros and Dollars. But now we have established contacts with the National Bank of Kazakhstan and working on finding an appropriate scheme. We also consider proving loans in Tenge”.