10 May, 2018

Bakhyt Sultanov participates in XXVII Annual Meeting of EBRD Governing Council

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The Minister of Finance Bakhyt Sultanov headed the Kazakhstan delegation in the XXVII Annual Meeting of the Board of Governors of the European Bank for Reconstruction Development (EBRD), which was held on May 8-10, 2018 in Jordan, reports primeminister.kz.

The Minister is the Governor of the Republic of Kazakhstan on the Board of Governors of the Bank.

The Board of Governors of EBRD reviewed the EBRD's operational activities, including in the Central Asian region, the results achieved in 2017, and further development prospects until 2025.

During the meeting of the minister with the President of the EBRD, Sir Suma Chakrabarti, the key projects implemented by the Bank in Kazakhstan were discussed, the attention was paid to the transfer of state property to a competitive environment.

The President of the Bank informed about the plans of EBRD before the end of 2019, to hold a structured analysis of ways to strengthen the Bank's activities in the countries of operations, paying special attention to Kazakhstan in the review.

Also in January 2019, the Bank begins a study on the gradual expansion of the geographical scope of its activities in sub-Saharan Africa using its own capital resources. The work is carried out in order to form the EBRD Strategy for 2021-2025.

Traditionally, these days the Bank conducts a Business Forum, both for government agencies, and for the business environment and civil society. This year the Forum was held under the motto "Impulse for the Economy."

Being one of the key speakers of the session "One Belt – One Way Initiative – Importance for the Countries Invested by the EBRD," Bakhyt Sultanov noted that: "through the Silk Road Economic Belt project, tied in its land part to Kazakhstan , through which rail and road routes go to the west, a new "Eurasian Bridge" will be created, and the economic corridor China – Central Asia – West Asia will be developed.”

The participants in the session, "Financial Centers as Catalysts for Reform and Economic Growth: the Role of the AIFC," discussed how financial centers such as AIFC can promote investment to stimulate growth, as well as the need to establish standards for corporate governance, skills and "green innovation."

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