Kazakhstan and OPEC Fund for International Development to facilitate coop in sphere of investments

ASTANA. KAZINFORM On 24 July 2014 Permanent Representative of the Republic of Kazakhstan to the International Organizations in Vienna Kairat Sarybay met with Director-General of the OPEC Fund for International Development (OFID) Suleiman Al-Herbish.

During the meeting the parties discussed investment cooperation, including attraction of low-interest and long-term financing to Kazakhstan, the Kazakh MFA's press release reads.

Suleiman Al-Herbish noted that OFID is interested in investment cooperation with Kazakhstan in public sector lending, private facility for the commercial sector and trade financing of export operations of Kazakhstani companies. The OFID head also noted that OFID is ready to assist in other areas of priority for Kazakhstan.

Kairat Sarybay said that the Government of Kazakhstan is ready for close interaction with OFID to finance development projects in Kazakhstan and also proposed cooperation in implementation of the "Green Bridge" Partnership Program and EXPO-2017, noting Kazakhstan's successful record of cooperation with international development institutions such as the Asian Development Bank, World Bank, European Bank for Reconstruction and Development and many others.

OFID is an international development finance institution established in 1976 by ​​Member States of OPEC with its headquarters in Vienna. As of June 2014, total cumulative assistance provided by the Fund exceeded $10 billion, including more than 6.7 billion of loans for public sector projects and programs.