Politics • 16 May, 2019

Askar Mamin meets with representatives of major international financial institutions

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May 16 at the XII Astana Economic Forum, the Prime Minister Askar Mamin held meetings with management of the European Bank for Reconstruction and Development, the Asian Development Bank, the Chinese CITIC Bank and the Indian Punjab National Bank, reports the press service of PM.

The current investment projects and promising areas for further development of cooperation in various sectors of the economy were discussed with delegations of international banks. During the meetings, the main attention was paid to projects supporting small and medium-sized businesses, including through active use of the public-private partnership mechanism.

Negotiations with the Vice President of the European Bank for Reconstruction and Development Alain Pilloux were devoted to the implementation of joint projects and the continuation of effective cooperation. In 2018, EBRD and Kazakhstan signed 26 projects worth $541 million across all sectors of the economy, including the mining industry, municipal and transport infrastructure, renewable energy sources and SMEs. Over the period of cooperation since 1993, the bank has invested over $8 billion in 240 projects in Kazakhstan.

The EBRD’s active portfolio in Kazakhstan includes 124 projects. To date, nine projects are being implemented for 31.5 billion tenge. One of the main areas of cooperation is the reconstruction of highways. It is planned to sign two new projects in the Kurty-Kapshagay and Atyrau-Astrakhan areas in 2019.

At the meeting with the Vice President of the Asian Development Bank Shixin Chen, topical issues of cooperation as part of the implementation of the Country Partnership Strategy for 2017–2021, aimed at ensuring sustainable economic growth, structural reforms, were discussed. Currently, three large-scale infrastructure projects totaling $831 million and 14 technical assistance projects worth $11.7 million are at the implementation stage. Five projects are planned for 2019, including on the modernization of irrigation systems, the reconstruction of roads and urban infrastructure.

During the conversation with the Chairman of the Board of CITIC Bank Li Qingping, the prospects for further expansion of cooperation were considered, including the current activities of Altyn Bank JSC, the shareholders of which include China CITIC Bank. The parties noted the active participation of the bank in lending real sector of the economy of Kazakhstan and positively evaluated the implemented high quality standards in customer service and corporate governance.

Issues of current cooperation, including as part of the work of Tengri Bank JSC, were discussed with Chairman and Managing Director of the Indian Punjab National Bank Sunil Mehta. The parties also exchanged their views on current global trends in the development of banking services and their potential impact on the economies of the countries.

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