Economic priorities of Kazakhstan discussed at EIB headquarters

NUR-SULTAN. KAZINFORM – Ambassador of Kazakhstan Margulan Baimukhan held talks in Luxembourg with the top management of the European Investment Bank (EIB), Kazinform has learnt from the press service of the Kazakh Ministry of Foreign Affairs.

During the meeting with high representatives of the EU Climate Bank, the parties discussed in detail the prospects for the EIB’s participation in financing development projects in Kazakhstan.

At the present moment, the EIB is particularly interested in the efforts of President Kassym-Jomart Tokayev to combat the socio-economic consequences of the COVID-19 pandemic, achieve carbon neutrality by 2060, promote interregional cooperation in Central Asia, address food security issues, develop women’s entrepreneurship, as well as improving the investment climate in the country.

Particular attention of the EIB experts was focused on the priority areas of green development of Kazakhstan, e.g. the introduction of energy-saving technologies, the development of urban infrastructure, the improvement of the housing sector, the introduction of green financing mechanisms, the solution of climate change problems in the Aral Sea zone and education.

On his part, Ambassador Baimukhan informed the EIB experts and senior officials about the main priorities of the new socio-economic policy of the Government of Kazakhstan in accordance with the New Kazakhstan agenda, and also exchanged views on new promising forms of interaction with EU institutions on the eve of the visit of the EIB delegation to Kazakhstan next March.

Background: In 2021, the European Investment Bank (EIB) and the European Investment Fund (EIF) allocated a record amount of financing in the amount of 95 billion euros. In January 2021, the EIB launched a new branch, EIB Global, aimed at expanding the bank’s operations outside the European Union. Today, the EIB is acting as a catalyst to raise funds from the public and private sectors needed to achieve the UN Sustainable Development Goals.