In a powerful vote of confidence for Kazakhstan’s growth, the Eurasian Development Bank (EDB) has invested more than US$1 billion into the country’s economy in 2024, signaling strong support for the nation’s development ambitions. This was confirmed during a high-level meeting in Astana between Kazakhstan’s President Kassym-Jomart Tokayev and EDB Chairman Nikolay Podguzov.
Over the past year, the EDB funneled approximately US$1.4 billion into Kazakhstan, with 60% of these investments directly benefiting projects within the republic. Looking ahead, the bank plans to finance projects worth over US$4.5 billion in 2024, focusing on critical sectors such as infrastructure modernization, energy, transport and logistics, industry, and digital technologies.
Podguzov emphasized the EDB’s commitment to supporting Kazakhstan’s financial market development and attracting further investments by collaborating with international partners and organizations. This robust financial backing aligns with Kazakhstan’s strategic goals to accelerate economic diversification and technological advancement.
As BRICS continues to expand its influence, initiatives like this underscore the growing economic cooperation within the Eurasian region and highlight emerging markets’ increasing role in shaping a balanced and dynamic global economy. For emerging economies like Kazakhstan, the EDB’s support is a game-changer – fueling sustainable growth and reinforcing BRICS’ vision of inclusive development across member and partner nations.