ASTANA, Kazakhstan, August 8. International financial institutions and development agencies in the Eurasian region have approved $693.5 million in financing for Kazakhstan in the first half of 2024, Trend reports.
This is stated in the annual study “Sovereign financing in the Eurasian region” of the Eurasian Fund for Stabilization and Development (EFSD).
According to the study, the above amount was approved for Kazakhstan through six transactions.
The main creditor of the country is the World Bank, which allocated $600 million in the first half.
In general, in the first half of 2024, $2.3 billion of sovereign financing was approved by international financial institutions and development agencies in the Eurasian region.
The World Bank and the European Bank for Reconstruction and Development are leaders in the volume of approved sovereign financing in the region from January through June 2024: $1.9 billion (49.9 percent of the total) and $609.1 million (27.8 percent), respectively. They are followed by the Islamic Development Bank (IDB) with $195 million (8.3 percent) and the Asian Development Bank with $132.9 billion (6.1 percent).
Among 11 countries (Azerbaijan, Armenia, Belarus, Georgia, Kazakhstan, Kyrgyzstan, Mongolia, Russia, Tajikistan, Turkmenistan, and Uzbekistan), Kazakhstan ranks first in terms of the amount of funding approved in the first half—$693.5 million.