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On 5th February, Ambassador Erlan Idrissov awarded Sir Suma Chakrabarti with a commemorative medal, in honour of the anniversary of the independence of the Republic of Kazakhstan. The President of the EBRD was awarded this medal by the Government of Kazakhstan, in recognition of his services and personal contribution to strengthening co-operation between Kazakhstan and the EBRD.
Whilst awarding the medal, the Kazakh diplomat noted Sir Suma Chakrabarti's integral role in growing the level of partnership between the EBRD and Kazakhstan. Ambassador Idrissov stressed that through this partnership, the EBRD is playing an active part in enabling the implementation of state programmes and development strategies, for Kazakhstan. The European Bank for instance, has helped Kazakhstan's regions attract sufficient investment to finance crucial infrastructural projects.
The five-year cooperation strategy, between Kazakhstan and the EBRD, is aimed at strengthening the banking sector and developing local capital markets; developing interregional interaction; supporting international integration; and facilitating the transition to a “green" economy.
At the meeting, Ambassador Erlan Idrissov noted the main principles of the State of the Nation Address by the President of the Republic of Kazakhstan, entitled “New Opportunities Under a Fourth Industrialisation", whilst also mentioning the launch of the Astana International Financial Centre, in Kazakhstan. The Ambassador also recognised the active participation of the EBRD in establishing the tripartite Memorandum of Understanding between the National Bank of the Republic of Kazakhstan, TheCityUK, and the European Bank for Reconstruction and Development. This agreement focuses on co-operation in the creation and development of the Astana International Financial Centre, and was signed during President Nazarbayev's official visit to London, in November 2015.
In turn, Sir Suma Chakrabarti asked for his gratitude to be conveyed to the President of Kazakhstan, emphasising that Kazakhstan was an important and reliable partner of the European Bank, within the region. The President of the EBRD stated his appreciation for the ongoing reforms in Kazakhstan, and expressed his readiness to continue work on mutually beneficial projects.