Astana, Kazakhstan, Feb.18
By Daniyar Mukhtarov - Trend:
Cooperation with the European Investment Bank (EIB) will encourage the inflow of foreign investments in Kazakhstan, the country's Minister of Economy and Budget Planning Erbolat Dossaev said on Feb.18 during a meeting with EIB Vice-President Wilhelm Molterer.
"Kazakhstan considers cooperation with the European Investment Bank as an important element of an integrated development of relations with the European Union - the largest trade and economic partner of our country," the minister said.
Additionally, the minister said that the cooperation will encourage the inflow of foreign investments and the rise of business activity in Kazakhstan.
The financing of projects of Kazakhstan's Development Bank and KazArgo holding will positively affect the development of companies with an average market capitalization, as well as other companies operating in the spheres of energy, infrastructure, industrial production and agro-industrial sector, according to the minister.
In April 2010, a framework agreement was signed in Brussels between Kazakhstan and the EIB on the bank's activity in the country.(the agreement came into force in April 2011), as well as a memorandum of understanding between the Samruk-Kazyna JSC and Development Bank of Kazakhstan JSC and the EIB, envisaging the readiness of the bank to invest some 300 million euros in implementation of projects in Kazakhstan.
