European Investment Bank ready for cooperation with Kazakhstan within G-Global

European Investment Bank (EIB) is willing to cooperate with Kazakhstan in the framework of the initiative G-Global.

This was stated in Luxembourg during the meeting of the EIB representatives with the head of the department of social and economic monitoring of the Kazakh Presidential Administration Serik Nugerbekov and Ambassador of Kazakhstan to Belgium and Luxembourg, head of the Kazakhstan's mission to the EU and NATO Yerik Utembayev.

It should be noted that the European Investment Bank is one of the operators of the European Union's anti-crisis program. In this regard, the Kazakh side held a meeting with EIB Executive Director of the Division of Operational Relations with the Eastern countries, the South Caucasus and Central Asia Heinz Olbers and Deputy Advisor in Economics Geoffrey Frewer.

"The world today needs a new financial system with better fiscal policy, competent management of bank resources, predictable growth. To develop solutions to combat the crisis it is important to involve the entire world community, and a virtual communication platform G-Global can become a dialogue platform," Serik Nugerbekov said at the meeting.

The representatives of the EIB agreed with the opinion that the G-20, G-8 should be expanded because of the need to find an answer to the questions of who and how to influence the world economic processes, as well as what should be the Institute for global strategic leadership. They expressed their willingness to study the opportunities of cooperation on the issue, including the establishment of a venture capital fund, as well as take part in the World Anti Crisis Conference in 2013 in Astana.

In addition, during the meeting the representatives of the EIB expressed readiness to start long-term financing and implementing projects in Kazakhstan in the fields of support for small and medium enterprises, combating climate change, infrastructure and innovations. The Bank also identified the criteria for identification of such projects on the feasibility and relevance, reliability of financial partners and guarantees of the state.