EBRD president to visit Turkmenistan, Azerbaijan, Kazakhstan to discuss investment

The Caspian region

BISHKEK (TCA) — The President of the European Bank for Reconstruction and Development (EBRD), Sir Suma Chakrabarti, is visiting three Caspian states next week.

Chakrabarti will visit Turkmenistan on 23-24 May, Azerbaijan on 24-25 May and Kazakhstan on 26-27 May, the EBRD said.

In all three countries, he will visit presidents and top government officials to discuss the growing importance of Central Asia and the Caucasus for the EBRD. He will say that increased reform will lead to more investment both from the Bank and from other international and local investors. He will discuss innovative investment approaches in all three countries and sign several agreements.  

The President will also meet representatives from the business and diplomatic communities. In Kazakhstan, he will speak at the Astana Economic Forum and co-chair the Foreign Investors Council with the President of Kazakhstan.  

President Chakrabarti said ahead of the visit: “I believe, as do EBRD shareholder countries and institutions, that the Bank has a large role to play in the region. Regional economic connectivity and integration is one of our key priorities as a bank. Promoting private sector investment and market transition is what the EBRD was created for 25 years ago, and we want to do more of that in the Caspian region and in Central Asia. My first trip to Turkmenistan will give me an opportunity to discuss that with the authorities.”  

The EBRD has increased its lending in Central Asia, providing €1.4 billion for projects there in 2015. The EBRD invested about €270 million in Azerbaijan last year.

Sergey Kwan