On October 31, Astana hosted the thirty sixth plenary assembly of the International Traders’ Council, with President Kassym-Jomart Tokayev of Kazakhstan in attendance. Through the assembly, Odile Renaud-Basso, President of the European Financial institution for Reconstruction and Improvement (EBRD), expressed her appreciation for the procurement procedures of Samruk-Kazyna. She famous that creditor corporations conduct purchases in line with the Fund’s rules, 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 International Traders’ Council. The EBRD is concerned in vitality, mining, oil and gasoline, and transportation initiatives throughout the Fund’s portfolio corporations. Moreover, the EBRD performs a crucial function within the mission to attach the electrical energy grid in Western Kazakhstan to the nation’s Unified Vitality 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 Improvement Financial institution (ADB). The ADB collaborates with the Fund on Samruk-Vitality, KEGOC, and KTZ initiatives and is able to help Samruk-Kazyna’s efforts to decarbonize Kazakhstan’s vitality sector. “Sustainable development is a high priority for both Kazakhstan and Samruk-Kazyna,” Zhakupov acknowledged.
The Chairman of the Administration Board highlighted that, via 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 boost transparency and effectivity in mission implementation, reinforcing confidence in Samruk-Kazyna’s procurement processes.
The International 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 corresponding to Complete, Eni, CNPC, Wabtec, Solidcore, Citi, EBRD, and ADB. The Council’s major job is to offer suggestions and proposals for outlining key instructions in Kazakhstan’s funding coverage, enhancing the funding local weather, and strengthening the regulatory framework for funding within the Republic of Kazakhstan.
