On October 31, Astana hosted the 36th plenary meeting of the Foreign Investors’ Council, with President Kassym-Jomart Tokayev of Kazakhstan in attendance. During the meeting, Odile Renaud-Basso, President of the European Bank for Reconstruction and Development (EBRD), expressed her appreciation for the procurement procedures of Samruk-Kazyna. She noted that creditor companies conduct purchases according to the Fund’s regulations, reflecting confidence in Samruk-Kazyna’s transparent procurement processes.
The Chairman of the Management Board of Samruk-Kazyna, Nurlan Zhakupov, also met with the EBRD President on the sidelines of the Foreign Investors’ Council. The EBRD is involved in energy, mining, oil and gas, and transportation projects within the Fund’s portfolio companies. Additionally, the EBRD plays a critical role in the project to connect the electricity grid in Western Kazakhstan to the country’s Unified Energy System.
“As part of our cooperation, we have successfully strengthened our partnership by implementing a number of major projects,” Nurlan Zhakupov emphasized during his meeting with Odile Renaud-Basso. He also discussed ongoing projects with Bhargav Dasgupta, Vice President for Market Solutions at the Asian Development Bank (ADB). The ADB collaborates with the Fund on Samruk-Energy, KEGOC, and KTZ projects and is ready to support Samruk-Kazyna’s efforts to decarbonize Kazakhstan’s energy sector. “Sustainable development is a high priority for both Kazakhstan and Samruk-Kazyna,” Zhakupov stated.
The Chairman of the Management Board highlighted that, through cooperation with the EBRD and ADB, the Fund’s procurement system has been recognized as adhering to leading international standards and practices.
The recognition from international financial institutions opens new opportunities to enhance transparency and efficiency in project implementation, reinforcing confidence in Samruk-Kazyna’s procurement processes.
The Foreign Investors’ Council, an advisory body chaired by the President of Kazakhstan, comprises 32 members and seven observers, including long-standing partners of Samruk-Kazyna such as Total, Eni, CNPC, Wabtec, Solidcore, Citi, EBRD, and ADB. The Council’s primary task is to provide recommendations and proposals for defining key directions in Kazakhstan’s investment policy, improving the investment climate, and strengthening the regulatory framework for investment in the Republic of Kazakhstan.
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