On October 31, Astana hosted the thirty sixth plenary assembly of the Overseas Traders’ Council, with President Kassym-Jomart Tokayev of Kazakhstan in attendance. In the course of the assembly, Odile Renaud-Basso, President of the European Financial institution for Reconstruction and Growth (EBRD), expressed her appreciation for the procurement procedures of Samruk-Kazyna. She famous that creditor corporations conduct purchases based on the Fund’s laws, reflecting confidence in Samruk-Kazyna’s clear procurement processes.
The Chairman of the Administration Board of Samruk-Kazyna, Nurlan Zhakupov, additionally met with the EBRD President on the sidelines of the Overseas Traders’ Council. The EBRD is concerned in power, mining, oil and fuel, and transportation initiatives inside the Fund’s portfolio corporations. Moreover, the EBRD performs a crucial position within the mission to attach the electrical energy grid in Western Kazakhstan to the nation’s Unified Power System.
“As part of our cooperation, we have successfully strengthened our partnership by implementing a number of major projects,” Nurlan Zhakupov emphasised throughout his assembly with Odile Renaud-Basso. He additionally mentioned ongoing initiatives with Bhargav Dasgupta, Vice President for Market Options on the Asian Growth Financial institution (ADB). The ADB collaborates with the Fund on Samruk-Power, KEGOC, and KTZ initiatives and is able to help Samruk-Kazyna’s efforts to decarbonize Kazakhstan’s power sector. “Sustainable development is a high priority for both Kazakhstan and Samruk-Kazyna,” Zhakupov acknowledged.
The Chairman of the Administration Board highlighted that, by way of cooperation with the EBRD and ADB, the Fund’s procurement system has been acknowledged as adhering to main worldwide requirements and practices.
The popularity from worldwide monetary establishments opens new alternatives to reinforce transparency and effectivity in mission implementation, reinforcing confidence in Samruk-Kazyna’s procurement processes.
The Overseas Traders’ Council, an advisory physique chaired by the President of Kazakhstan, contains 32 members and 7 observers, together with long-standing companions of Samruk-Kazyna reminiscent of Complete, Eni, CNPC, Wabtec, Solidcore, Citi, EBRD, and ADB. The Council’s main activity is to supply suggestions and proposals for outlining key instructions in Kazakhstan’s funding coverage, bettering the funding local weather, and strengthening the regulatory framework for funding within the Republic of Kazakhstan.