Samruk-Kazyna JSC’s procurement system has received international recognition. The European Bank for Reconstruction and Development (EBRD), one of the world’s leading international financial institutions, will use the Fund’s procurement rules and electronic procurement platform for the implementation of its investment projects.

The corresponding Memorandum of Understanding was signed by Nurlan Zhakupov, Chairman of the Management Board of Samruk-Kazyna JSC, and Odile Renaud-Basso, President of the EBRD.

The signing of the Memorandum marks an important milestone in the international recognition of Samruk-Kazyna’s procurement system. Under the ratified Agreement between the Republic of Kazakhstan and the EBRD, procurement under contracts financed in whole or in part by the Bank is conducted in accordance with the EBRD’s procurement rules and through its electronic procurement platform. Against this backdrop, the transition to using Samruk-Kazyna’s procurement rules and electronic procurement platform for EBRD-financed projects represents a historic step.

This has been made possible because the Fund’s procurement system meets the EBRD’s stringent international standards for transparency, competition, equal access for suppliers, integrity, and efficiency, as well as the requirements of other international financial institutions.

The signing of the document opens a new chapter in the development of the Fund’s procurement system. The EBRD has previously used Samruk-Kazyna JSC’s procurement system in the implementation of a project with KEGOC JSC. The Memorandum formalizes this successful cooperation and provides a framework for the systematic use of the Fund’s procurement platform and rules in future EBRD-financed projects in Kazakhstan.