PM Mamin meets reps of major international financial institutions in Nur-Sultan
16 May 2019 18:55

PM Mamin meets reps of major international financial institutions in Nur-Sultan

NUR-SULTAN. KAZINFORM On the sidelines of the XII Astana Economic Forum, 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 sides discussed joint investment projects and promising areas for further development of cooperation in various sectors of the economy.

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

The EBRD's active portfolio in Kazakhstan includes 124 projects. Nine projects worth 31.5 billion tenge are under implementation now. One of the main areas of cooperation is the reconstruction of highways. Two new projects in Kurty-Kapshagay and Atyrau-Astrakhan areas will be signed in 2019.

The meeting with Vice President of the Asian Development Bank Shixin Chen focused on the acute issues of cooperation as part of implementation of 2017-2021 Country Partnership Strategy. The goal of the Strategy is to ensure sustainable economic growth and carry out structural reforms. Three large-scale infrastructure projects totaling $831 million and 14 technical assistance projects worth $11.7 million are at the implementation stage now. Five more projects will be launched 2019, which include irrigation systems modernization, reconstruction of roads and urban infrastructure.

At the meeting with Chairman of the Board of CITIC Bank Li Qingping, the parties discussed the prospects for further expansion of cooperation, 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 praised high quality standards introduced into the customer service scheme and corporate governance.

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