BAKU, Azerbaijan, November 2. The European Bank for Reconstruction and Development (EBRD) is providing a loan of up to $10 million to Kazakhstan's Eurasian Machinery Kazakhstan (EMK) to meet the company's working capital requirements and support its expansion, according to the EBRD.
EMK, a leading supplier of excavators and other specialist equipment, will use the financing to manage its warehouse stock more efficiently, purchase spare parts for repair and rebuild operations, and expand its service department.
The company is an official distributor of Hitachi Construction Machinery and other internationally recognized industrial machinery brands.
The project is also expected to help EMK expand its operations in Kazakhstan and across Central Asia, while improving the technical skills of its employees through tailored training programs.
The EBRD said the financing would help improve efficiency in the agriculture, construction, infrastructure and mining sectors in Kazakhstan and the wider Central Asian region.
Kazakhstan joined the EBRD on July 27, 1992. The bank has invested almost $13.6 billion in the country to date through 361 projects, making Kazakhstan the largest and longest-running recipient of EBRD investment in Central Asia.
In Kazakhstan, the EBRD aims to boost private-sector competitiveness and connectivity, as well as strengthen economic governance. The bank also supports Kazakhstan's green transition towards carbon neutrality and climate resilience, while promoting economic inclusion and gender equality through greater private-sector engagement.
