Kazakhstan and the EBRD
The European Bank for Reconstruction and Development launches a new 5 Year Country Strategy for Kazakhstan.
This year the European Bank for Reconstruction and Development (EBRD) celebrates 30 years of partnership in Kazakhstan. Since 1992, EBRD has completed 177 projects and invested 6.7 billion EUROS. There are a further 119 active EBRD projects in Kazakhstan representing a portfolio of 2.9 billion EUROS. The majority of this investment (68%) is in Sustainable Infrastructure, and 51% of the portfolio is comprised of public financing on government infrastructure projects.
On June 30, 2022, EBRD approved a new country strategy for Kazakhstan, emphasizing three key areas of focus from 2022 to 2027:
• Fostering private sector competitiveness and improving connectivity
• Supporting Kazakhstan’s pathway to carbon neutrality
• Promoting economic inclusion, youth and gender equality
According to EBRD a viable path forward should explore ways to encourage private sector on efforts “in municipal infrastructure, including in energy efficiency” to support Kazakhstan’s carbon neutrality efforts, a goal the country has set to be fully implemented by 2060. EBRD’s previous strategy supported various green economy initiatives such as the launch of the EBRD Green Economy Financing Facility and the Green Cities Action Plan for Almaty which will likely call for further action and potential commercial exploration in the future.
In the near future however, EBRD seeks to support Kazakhstan’s green pathway to carbon neutrality through increased decarbonization efforts in the energy sector as well as increased renewable energy activities by 2027.
To learn more about how to leverage EBRD Country Strategy and other actionable opportunities in Kazakhstan, please contact Chrystal Denys at USAOffice@EBRD.com or Ja’Nel Edens at firstname.lastname@example.org.