DBK took part in the investment forum between the countries of the Persian Gulf and Central Asia

• 30.05.2024
• Press releases

DBK took part in the investment forum between the countries of the Persian Gulf and Central Asia

Development Bank of Kazakhstan JSC (a subsidiary of the «Baiterek» NMH) took part in the investment forum between the countries of the Cooperation Council for the Arab States of the Persian Gulf and Central Asia. Deputy Chairman of the Management Board Botagoz Abisheva spoke at a discussion panel on the topic «Renewable and clean energy», presenting the «green» initiatives of the Bank and the «green» agenda of the Government of the Republic of Kazakhstan.

«The Development Bank actively supports projects in the field of renewable energy sources, and strives to reduce the shortage of electricity in the market of the Republic of Kazakhstan. The Bank intends to comply with international standards of sustainable development, including ensuring that the activities of its borrowers comply with these principles. This underlines the Bank's readiness to assist in achieving global sustainable development goals and the transition to a low-carbon economy, as part of the implementation of the strategic goal of the Government of the Republic of Kazakhstan to achieve carbon neutrality by 2060», said Deputy Chairman of the Board Botagoz Abisheva.

As part of the discussion, Botagoz Abisheva presented the plans of the DBK for the development of activities in the direction of renewable energy sources. In order to attract additional resources necessary for low-carbon development and achieving carbon neutrality, the Bank intends to expand the use of the mechanism of «green» financing and co-financing with international financial institutions, and will also continue to attract funds from international funds and private investors through the issuance of green, social and sustainable bonds on local and international capital markets.

It should be noted that the total installed capacity of renewable energy projects that have received financing from the DBK is 560 MW. This is equivalent to 20% of the total volume of green energy produced in the Republic of Kazakhstan as of January 1, 2024.

As part of the investment forum program, DBK representatives met with the Minister of Investment of the Kingdom of Saudi Arabia H. Al-Falih, as well as with the leadership of the Saudi Export-Import Bank and the Saudi Development Fund. The meetings with financial institutions were a continuation of the earlier negotiations and laid the foundation for the implementation of joint initiatives. Earlier, during the meetings, the possibilities of bilateral cooperation with financial institutions of Saudi Arabia were considered, including raising funds to finance the Bank's projects.