AKIPRESS.COM - The European Bank for Reconstruction and Development (EBRD) invested $525 million in 14 projects in Kazakhstan in 2022, reported the bank’s press service on Jan. 27.

“The green sector accounts for the largest share of total investments at more than 60 percent of the projects. As part of the signed projects, the EBRD has also attracted almost $260 million from other investors, thus channeling $785 million into Kazakhstan’s real sector,” said the report.

In June 2022, the EBRD approved a new strategy for Kazakhstan, setting its priorities for the next five years. The bank’s investment and policy activities will foster private sector competitiveness and connectivity and strengthen economic governance, supporting Kazakhstan’s transition to carbon neutrality and climate resilience and promoting financial inclusion and gender equality through private sector engagement.

With more than $10.7 billion invested in the country through 304 projects, Kazakhstan is the EBRD’s largest and longest-running banking operation in Central Asia.

Recently, the bank supported Kazakhstan in establishing a legal framework for cross-border, over-the-counter derivatives and the repurchase of agreement transactions, enabling Kazakh businesses to hedge their currency exchange and interest-rate-related risks better.