ASTANA, Kazakhstan, November 2. The EBRD and Kazakhstan Railways (KazakhstanTemir Zholy, KTZ) will begin collaborating on the modernization of the country's railway sector infrastructure, Trend reports.
A meeting took place between KTZ Chairman Nurlan Sauranbaev and EBRD Vice President Matteo Falcone. During the meeting, a memorandum was signed between the two parties. The aim of this memorandum is to create a strategic foundation and identify key areas for future cooperation between the EBRD and KTZ, including the modernization of Kazakhstan's railway infrastructure.
"We have agreed on strategic cooperation in the modernization of the national railway carrier's infrastructure, enhancing the modernization of the Trans-Caspian International Transport Route, financial and environmental sustainability, as well as accelerating the promotion of best practices in social and governance (ESG) standards," noted Matteo Falcone.
Earlier, President of Kazakhstan Kassym-Jomart Tokayev met with EBRD President Odile Renaud-Basso, who arrived in Kazakhstan to participate in the 36th plenary session of the Foreign Investors Council.