On October 31, Astana hosted the 36th plenary meeting of the Foreign Investors Council with participation of the President of Kazakhstan Kassym-Jomart Tokayev.

During the meeting with the Head of State, Odile Renaud-Basso, the President of the European Bank for Reconstruction and Development, expressed appreciation of the procurement procedure of Samruk-Kazyna, noting that creditor companies conduct purchases according to the rules of the Fund, which indicates confidence in the procurement processes of Samruk-Kazyna and their transparency.

The Chairman of the Management Board of Samruk-Kazyna Nurlan Zhakupov also held a meeting with the President of the EBRD on the sidelines of the Foreign Investors Council.

The European Bank for Reconstruction and Development is involved in energy, mining, oil and gas and transport projects of the Fund’s portfolio companies. The EBRD also plays a key role in the project of connecting the electricity grid of Western Kazakhstan to the Unified Energy System of the country.

“As part of our cooperation, we have successfully strengthened our partnership by implementing a number of major projects”, - Nurlan Zhakupov stressed during the meeting with Odile Renaud-Basso.

The Head of Samruk-Kazyna also discussed the status of ongoing projects with Bhargav Dasgupta, the ADB Vice President for Market Solutions.

The Asian Development Bank cooperates with the Fund on Samruk-Energy, KEGOC and KTZ projects. ADB is ready to support Samruk-Kazyna’s efforts on decarbonization of the country’s energy sector.

“Sustainable development occupies a prominent place on the agenda of both Kazakhstan and Samruk-Kazyna”, - Nurlan Zhakupov said.

The Chairman of the Management Board of the Fund noted that in cooperation with the EBRD and ADB in implementation of projects, the Fund’s procurement system was recognized as conforming to leading international standards and practices.

The recognition of international financial institutions opens up new opportunities to increase transparency and efficiency of project implementation. It also indicates confidence in the procurement procedures of Samruk-Kazyna.

The Foreign Investors’ Council is an advisory body chaired by the President of the Republic of Kazakhstan.

The Council consists of 32 members and 7 observers, including long-time partners of Samruk-Kazyna, such as Total, Eni, CNPC, Wabtec, Solidcore, Citi, EBRD, ADB.

The main task of the Council is to develop recommendations and proposals on defining the main directions of Kazakhstan’s investment policy, enhancing the investment climate and strengthening the regulatory framework of the Republic of Kazakhstan on investments.