EBRD Events Start in Astana This Week

The EBRD Annual Meeting will analyze the most recent changes in political, economic, and financial spheres in the region of operations of the Bank, as well as business prospects there. In addition, the forum will encourage European investors to further cooperate with Central Asian states.

To date, the EBRD has committed itself to allocate EUR 2.8 6

billion to finance projects in various sectors of Kazakhstan’s economy, which mobilised additional investments worth over seven billion euros. As a result of economic cooperation, the Bank has invested more than US $5 billion in Kazakhstan. Given the additional funds raised by EBRD partners, these investments have reached more than US$14 billion. Of these, around US $ 6.5 billion were aimed at infrastructure projects, while US$ 3 billion were directed to the banking sector, including US$ 400 million to the development of small and medium enterprises. About US$ 2 billion went to energy and natural resources projects; above US$ 2.5 billion covered industrial and agriculture projects. The Annual Meeting in Astana will gather about 2,500 visitors and attendees, including 61 EBRD member states, the European Union, and the European Investment Bank, as well as representatives of international financial organisations such as the Asian Development Bank, the Islamic Development Bank, the International Monetary Fund, the World Bank, and others. On the sidelines of the Annual Meeting, Kazakhstan and the Bank will organise a number of other events.

On May 18-19, the Bank, the French presidency of G20, and the Reinventing Bretton Woods Committee will hold a joint conference on “Development of funding in national currencies and of national capital markets.” The annual meeting of Donors will also take place during these days. The day before the main events, the Government of Kazakhstan will organise the Host Country Investment Forum on May 19 entitled: “Kazakhstan, Investment, Industrialisation, Innovation. Taking this opportunity, Kazakhstan will demonstrate to potential European investors detailed information on the governmental measures to support foreign investment and attractive investment projects. The Kazakh side will also hold an exhibition of achievements in various areas of the economy. One of the main events of the Annual Meeting, the Business Forum, will take place on May 20-21. The Forum, entitled “Supporting Markets - Asia Meets Europe,” will analyze lessons learned from the recent financial crisis. Panel discussions of the Board of Governors sessions on May 20-21 will bring together leading economists, government officials, policy makers, business leaders from the EBRD member countries, as well as representatives of key countries in Asia. The high-level panel discussions will cover a number of key topics such as fostering entrepreneurship, role of women in business, food security. Country presentations and networking and social events will also be part of the Annual Meeting. In addition, organisers will hold a series of events for non-governmental organisations and civil society such as the Civil Society Programme and other forums. The EBRD is an international financial organization, owned by 61 countries, the European Union, and the European Investment Bank, that funds projects in 29 countries stretching from Central Europe and the Western Balkans to Central Asia. By investing in projects that could not otherwise attract financing on similar terms, the Bank promotes entrepreneurship and transition to open and democratic market economy.

To learn more of the upcoming EBRD 2011 Annual Meeting in Astana please visit the event’s webpage.