Brussels, 12/04/2010 (Agence Europe) - In Brussels on Saturday 10 April, President of the Republic of Kazakhstan Nursultan Nazarbayev, Kazakhstan's Secretary of State and Minister for Foreign Affairs Kanat Saudabayev and European Investment Bank (EIB) President Philippe Maystadt signed a framework agreement that will provide the basis for future EIB lending in Kazakhstan.
The EU Council of Ministers decided in November 2008 to extend the EIB's external lending mandate to five Central Asian countries for selected projects of common interest in the energy and environment sectors, a decision that was upheld by the Council and European Parliament in July 2009. The existing mandate provides for a maximum of €1 billion in loans in Asia, including Central Asia, over the period 2007-13. The European Commission is due to present proposals to revise this mandate at the end of April. In a press release, the EIB notes, inter alia, that it has put in place its own €3 billion multiannual facility to support projects in neighbouring countries and that this facility could be expected to provide finance to a number of energy projects in Kazakhstan, subject to compliance with EIB lending criteria. Commenting on the signing, Maystadt said that Kazakhstan was an important partner for the EU, within the EU's Central Asia strategy, and that, as a consequence, it was “natural” that the EIB play its part in “cementing” the ties between the two parties. “This agreement means that we will now be able to actively look for and consider financing eligible projects in the country,” he added. (O.L./transl.rt)