Astana -18 °С
Almaty -6 °С
Exchange rates
USD 421.58
EUR 496.83
RUB 5.53
CNY 62.20

Kazakhstan remains attractive for international development banks

19 February 2020 13:01

NUR-SULTAN. KAZINFORM In Q3 2019, the volume of investment and project financing by international development banks (IDBs) of the CIS states’ private sector saw an 81.2% growth compared to Q2 2019 and amounted to $1.87bn, Kazinform reports citing

In January – September 2019, nine international financial institutions approved new financing of 100 projects in the CIS worth $, that is 81.2% more compared to the same period in 2018 ($2.1bn).

The European Bank for Reconstruction and Development leads in investing in the CIS countries (46.9%). The Eurasian Development Bank (25.2%) and the Asian Development Bank (12.3%) are among the leaders too.

The biggest share of approved investment and project financing falls on Kazakhstan: 45.6% that is significantly higher than in other countries. Ukraine is the second with 23.2% and Russia stands the third (11.6%).

In three quarters of 2019, the international development banks approved financing of 30 projects in Kazakhstan to the total amount of $1.7bn that is 2.7times higher compared to the previous year ($628.2mn).

The EBRD, EDB and ADB became the major investors in Kazakhstan.

The EBRD injected $616.3mn of investment in Kazakhstan’s private sector or 35.4% of the total sum of financing by the international development banks. At the end of 2018, the total amount of the EBRD’s investment in Kazakhstan was €7.7bn, and active portfolio was €2.4bn.

The amount of the approved investment and project financing by the EDB in January-September 2019 made $538.5mn or 30.9%. As of February 1, 2019, 37.2% of the EDB’s investment portfolio fell on Kazakhstan (40.9% - on Russia).

In turn, the ADB spent $468.6mn on Kazakhstan’s private sector in January-September 2019.

Keywords: Economy,