Projects in Kazakhstan |
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Project Summary Documents Project Summary Documents (PSDs) are disclosed for each project prior to Board consideration. They contain project descriptions, financial details, client information, environmental issues, tender guidelines, and contact details. PSDs for private sector projects are disclosed at least 30 days prior to Board consideration and for state sector projects, at least 60 days. Signed projects Board approval is the final stage in the project approval process. After Board approval, the EBRD and the client sign the deal and it becomes legally binding. Signed project lists reflect year-end data.
Signed projects
2007 overview As of November 2007, EBRD total business volume in Kazakhstan stood at € 3.3 billion. In 2006, the EBRD annual business investment in Kazakhstan was € 242 million. As of November, the EBRD committed around € 435 million in 2007. Since starting operations in Kazakhstan, the EBRD has provided technical cooperation funds to 114 projects for a total amount of € 36 million. Transition impact The quality of projects, in terms of transition impact, is very strong with more that 50% of projects rated ‘good’ & ‘excellent’. Sectors Most EBRD projects are in the following sectors: general industry, natural resources, and agribusiness. General industry sector Some of the new projects in the general industry sector include: • €20 million for Kazakhstan Kagazy project Mittal Steel Temirtau One of the milestone projects signed in 2007 in Kazakhstan was Mittal Steel Temirtau. The EBRD provided € 70.5 million to support improvements to the health and safety practices at coal mines in order to bring them in line with international best practice. The project is the first in a wider EBRD initiative to support improvements to environmental, health and safety practices in mines in the Bank’s countries of operations. Property & tourism sector In property & tourism sector, the EBRD made a € 40 million equity investment in Kazakhstan- Meinl Caucasus and Central Asia, a real estate investment fund. The fund will invest in retail real estate for the purpose of developing, renovating and managing real estate property. Projects will include hotel, office and residential real estate to create attractive new multi-use schemes in Caucasus and Central Asia with a focus on Georgia, Kazakhstan, and Armenia. Banking sector The EBRD strengthened its efforts to improve transparency of ownership and integrity in Kazakhstan's banking sector. The EBRD made a € 15 million equity investment for 20% stake in Kazinvestbank. Equity market development was also supported through investments in two funds, Centras Private Equity (€ 8 million) and Barings Vostok Fund (€ 6 million). The EBRD promoted further development of the market for residential mortgages by providing a mortgage finance facility to Bank Centre Credit for € 3 million. EBRD also signed a €219 million syndicated A/B loan to Kazkommertsbank, 1/3 of which for its own account. Trade Facilitation Programme The Trade Facilitation Programme remained an important instrument in supporting a wide range of trade transactions of Kazakh enterprises, including long-term intra-regional imports. In 2007, the team committed loans and guarantees under the programme in excess of € 93 million. |
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