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10/10/07

EBRD may acquire a stake in Kazakhstan Investment Fund


The European Bank for Reconstruction and Development (EBRD) examines the possibility of acquiring a stake in the Kazakhstan Investment Fund incorporated in the Kazyna Fund for Sustainable Development, the Embassy of Kazakhstan reports referring to the Interfax-Kazakhstan news agency.

Category: Economy
Posted by: admin

“The EBRD has clearly shown eagerness to study the situation in the Investment Fund of Kazakhstan and then proceed with co-management in the Fund, i.e. become a shareholder of the Investment Fund following relevant procedures,” Kazyna’s chairman of the board Kairat Kelimbetov told journalists on Thursday in Astana.

“Investment Fund is one of the development institutions established in 2003, currently it implements direct investments in Kazakh economy, and today, according to preliminary talks, the EBRD expressed interest in co-investments into the economy of Kazakhstan,” Kelimbetov said.

Kazyna chairman indicated that the EBRD shareholding in the Investment Fund may make up to 20-25%.