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Tuesday, November 13th, 2018

Bakhyt Sultanov takes part in the XXVII Annual Meeting of the EBRD Board of Governors

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Kazakhstan’s delegation led by Minister of Finance Bakhyt Sultanov took part in the XXVII Annual Meeting of the Board of Governors of the European Bank for Reconstruction Development (EBRD), which took place in Jordan on May 8-10, 2018.

The Minister is the Governor for the Republic of Kazakhstan on the Bank’s Board of Governors.

The EBRD’s Board of Governors reviewed the EBRD’s operational activities, including in the Central Asian region, the results for 2017, and further development prospects until 2025.

In the course of the meeting of the Minister with the President of the EBRD, Sir Suma Chakrabarti, the interlocutors discussed key projects implemented by the Bank in Kazakhstan, dwelled on the transfer of state property to a competitive environment.

The President of the Bank spoke about EBRD’s plans for a structured analysis of ways to strengthen the Bank’s activities in countries where it operates before the end of 2019, paying special attention to Kazakhstan in the review.

Also, in January 2019 the Bank will launch a study on the gradual expansion of the geographical scope of its activities in sub-Saharan Africa using its own capital resources. The work is carried out in order to form the EBRD Strategy for 2021-2025.

Traditionally, these days the Bank conducts a Business Forum, both for government agencies, and for the business environment and civil society. This year this Forum was held under the motto Energizing Economies.

Being one of the key speakers of the session One Belt � One Road Initiative – its importance for the countries invested by the EBRD, Bakhyt Sultanov noted that: through the Silk Road Economic Belt project, which is tied to Kazakhstan through land, having rail and road routes going to the west, a new Eurasian bridge will be created and the economic corridor China – Central Asia – Western Asia will be developed.

The participants in the session Financial Centers as catalysts for reform and economic growth: the role of the AIFC discussed how financial centers such as AIFC can promote investment to stimulate growth, as well as the need to establish standards for corporate governance, skills, and green innovation.

Source: Government of the Republic of Kazakhstan

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