Development Bank of Kazakhstan, European Investment Bank sign €320mln worth MoU

Kazakhstan Development Bank and the European Investment Bank entered into a memorandum of understanding to the amount of 320 million euros, Kazinform News Agency reports.

The document was signed on the sidelines of the Global Gateway Investors Forum for EU-Central Asia Transport Connectivity held January 29-30  in Brussels. 

A delegation of Kazakhstan led by Minister of Transport Marat Karabayev participated in the event.

Those signing the memorandum were Deputy Chairman of the Kazakhstan Development Bank Botagoz Abisheva and Vice President of the European Investment Bank Teresa Czerwińska.

The memorandum aims at further development of the projects in various non-resource based sectors of Kazakhstan, including transport, which promote stable transport communication between Europe and Central Asia. This step evidences the beginning of the partnership between our countries.

Teresa Czerwińska noted that signing the memorandum will contribute to the rapprochement of the European Union and Central Asia.

In her words, the EU plans to develop stable interconnectivity in the region.

"The EIB invests almost 11 billion euros in transport infrastructure which makes about 20% of our investments," she said.

“We are interested in further cooperation with Kazakhstan and the Development Bank of Kazakhstan,” she added.