Kazakhstan leads among CIS states in foreign loans attraction

NUR-SULTAN. KAZINFORM Kazakhstan leads among the CIS countries in attraction of foreign loans for its promising projects, Kazinform learnt from finprom.kz.

According to the statistical data, the volume of approved investment project loans for Kazakhstan rose by 45% and reached $874.5mn.

In Q2 2019, the international development banks approved up to $1bn investment project financing for Kazakhstan’s private sector, that is 13.3% more compared to the same period in 2018. The number of new projects in Q2 2019 was 34. The major volume of financing was provided by the EBRD and EDB – 43.8% and 37%, respectively.

In a country breakdown, the biggest share of financing falls on Kazakhstan: 24.9%. Eight projects worth $257.7mn were approved in Q2 2019.

Russia stands the second – 24.5%, with five projects to the amount of $23.5mn approved. And Ukraine is the third – 23.5% ($243.4mn).

The EBRD became the main investor of Kazakhstan in Q2 2019 having provided $184.2mn, while the EDB’s financing was $73.5mn.

In general, in H1 2019, the international development banks offered $847.5mn financing for Kazakhstan, that is 44.9% more against the same period in 2018 ($603.5mn).

The biggest part of the loans comes from the EBRD: $562.6mn ($120mn in 2018). The amount of financing from the EDB and ADB was $250.1mn and $51.8mn, respectively. The International Finance Corporation provided $10mn to Kazakhstan in Q1 2019.