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Kazakhstan urges prompt establishment of European Investment Bank office in Astana

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Kazakh Deputy Prime Minister and Foreign Minister Murat Nurtleu expressed the country’s interest in attracting investment from the European Investment Bank (EIB) and prompt opening of an office in Astana at an Oct. 23 meeting with EIB Vice President Teresa Czerwińska in Luxembourg, reported the ministry’s press service, writes Saniya Sakenova in Business, International.

This office can significantly expand the EIB’s investment portfolio and its presence in the region, Nurtleu said, urging the bank to consider the possibilities for closer cooperation in green financing and the exchange of innovations with the Astana International Financial Centre.

The EIB regards Kazakhstan as a key partner in Central Asia, Czerwińska said, mentioning four loans worth €269.5 million ($284.2m) issued to date to support the development of the local private sector by providing financial access to small and medium-sized enterprises, while incentivizing them to implement more sustainable and environmentally friendly projects.

Czerwińska revealed the EIB’s plans to support investments in Kazakhstan following the principles and priorities of the Enhanced Partnership and Cooperation Agreement and the Global Gateway program.

The parties agreed to establish a working group to outline a detailed roadmap for investment cooperation.

On Oct. 24, Nurtleu met with representatives of several German companies during his visit to Frankfurt to explore possibilities for joint investment projects in Kazakhstan.

EMAG, a German company manufacturing machine tools and production systems for machining parts in the automotive, aviation, energy, and mining industries, expressed interest in localizing their production in Kazakhstan.

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WIS Kunststoffe company spoke about their plans to build a plant to produce polymer plastics and components in Kazakhstan.

PSE Engineering, an engineering company specializing in process modeling, mechanics, and pipeline technologies, is set to launch an assembly production in Kazakhstan.

Emphasizing Central Asia’s importance due to the high demand for modern technological solutions in the oil and gas industry, the company has delivered several engineering and equipment supply projects for a domestic oil and gas company.

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