Move to larger office to accommodate expanding team highlights growing EBRD investment in Kazakhstan
The EBRD’s team in Astana, the capital of Kazakhstan, has moved to new offices.
Kazakhstan’s Vice-Minister of Finance, Ruslan Beketayev, and the EBRD’s Vice President and Chief Risk Officer, Betsy Nelson, cut the ribbon at the new office located on the 10th floor of the Saad Business Centre in Dostyk street, 2.
The move to new, bigger premises was urgently needed because of the Bank’s rapidly expanding involvement in Kazakhstan’s economy and a significant increase in its investments in the country.
So far this year, the EBRD team in Kazakhstan has signed 16 projects for US$ 501 million, making Kazakhstan the fastest-growing portfolio in the Bank.
In May 2014, the EBRD signed an Enhanced Partnership Agreement with the government of Kazakhstan. The accord has led to a very high level of cooperation and is delivering tangible results in the form of higher volumes and a number of innovative projects.
The EBRD is helping small businesses through the Small Business Support team advisory programme and through dedicated credit lines, putting in place a Women in Business programme; working across nine regions in a range of municipal services including water, district heating, waste management, transport, investing in green energy and increasing private sector investment in the agricultural and manufacturing spheres.
The EBRD is also actively supporting the government’s reform drive including in the areas of tariff reform, PPP (public-private partnership) legislation/financing and energy efficiency/green economy.
At the new office opening ceremony, the EBRD Vice President Betsy Nelson said: “The EBRD is expanding its office and staff presence in Astana with its move to this beautiful new building. This location gives us a great platform to achieve our goals. I would like to thank the government of Kazakhstan represented here by Vice-Minister of Finance Beketayev for the excellent fruitful cooperation.”
EBRD Director for Kazakhstan, Janet Heckman, said: “Since we signed the Partnership Arrangement with the government a year ago, our business volume has surged. Our new business address will help us accommodate the growing number of EBRD staff and clients in Astana.”
To date, the EBRD has invested over US$ 7.2 billion in various sectors of Kazakhstan’s economy, with a focus on non-oil and gas sectors.