EBRD President Renaud-Basso to pay virtual visit to Kazakhstan

By Anton Usov

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Odile Renaud-Basso assumes office as EBRD president

  • President to meet with Prime Minister Askar Mamin and senior government officials
  • EBRD and Kazakhstan to sign enhanced partnership accord and infrastructure project
  • EBRD brought more than US$ 920 million to the Kazakh economy in 2020

The President of the European Bank for Reconstruction and Development (EBRD), Odile Renaud-Basso, will pay a virtual visit to Kazakhstan from 29 to 31 March to meet with senior government officials and Bank clients.

In a three-day programme, the EBRD President will meet with Kazakhstan’s senior leadership, including Prime Minister Askar Mamin and First Deputy Prime Minister and EBRD Governor Alikhan Smailov. Other high-level engagements include meetings with Minister of Energy Nurlan Nogayev, National Bank Governor Erbolat Dossaev and the Akim of the East Kazakhstan Region, Daniyal Akhmetov. President Renaud-Basso will also meet the Chair of Kazakhstan’s Agency for Strategic Planning and Reform and Governor of Astana International Financial Centre, Kairat Kelimbetov, and the Chair of the Agency for the Regulation and Development of the Financial Market, Madina Abylkassymova.

The EBRD President is also due to participate in the signing of an Enhanced Partnership Framework Arrangement between the Bank and Kazakhstan, which will identify further key areas of cooperation between the two parties as well as an agreement on an infrastructure project in east Kazakhstan.

During her virtual visit, President Renaud-Basso will also hold meetings with private-sector investors and representatives of the diplomatic community and host a round table for women entrepreneurs.

The EBRD President said: “I am looking forward to my first official visit to one of the largest countries in which the Bank invests. Over many years, Kazakhstan and the EBRD have enjoyed a successful cooperation, which we have committed to continue. During this visit, we are going to jointly agree on the reforms and priority projects we can work on in the coming years.”

In 2020, the EBRD responded to the Covid-19 challenges in Kazakhstan by committing US$485 million to 20 projects in various sectors of the economy. Almost 80 per cent of the Bank’s financing was channelled to supporting private-sector companies. Together with US$ 440 million of additional financing mobilised by the Bank, the EBRD brought a total of US$ 925 million to Kazakhstan in 2020. These resources were used for capital investment, to replenish the working capital of companies, to improve the liquidity of financial institutions and to support trade.

To date, the EBRD has invested more than US$ 7.95 billion in the economy of Kazakhstan through 280 projects. Supporting small businesses is particularly important to the EBRD and in line with its country strategy for Kazakhstan.

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