Tokayev proposes Kazakhstan-Germany investment and finance platform

Kazakh President Kassym-Jomart Tokayev has proposed creating a Kazakhstan-Germany investment and finance platform.

According to Report, citing the press service of the Kazakh president, Tokayev made the proposal during a meeting with heads of leading German business associations and financial institutions as part of his official visit to Germany.

Tokayev said the platform would make it possible to combine German and European capital with Kazakhstan's co-financing, guarantee and risk-sharing mechanisms, while Baiterek Holding would provide project structuring.

He stressed that Germany is one of Kazakhstan's key partners in Europe and that the potential for economic cooperation between the two countries is far from exhausted.

Tokayev noted that over the past decade Kazakhstan had built the most advanced digital and financial ecosystem in the region. Last year, development institutions provided a total of $20 billion in support to the economy.

According to him, the Development Bank of Kazakhstan, with support from German financial institutions, has raised more than $1.2 billion from Deutsche Bank, Helaba, LBBW, Commerzbank, KfW and other organizations to finance projects in industry, energy and transport infrastructure.

Tokayev also highlighted the potential of Alatau City, saying it could serve as a link between German institutional capital and Kazakhstan's investment opportunities.