April 19, 2024

Almaty SEC met with the French Development Agency

Development Agency (AFD) visited Almaty SEC as part of a mission to explore opportunities for cooperation with Kazakhstan's public financial sector.

The French Vincent Kaupin, AFD Regional Director for Central Asia and Katerina Petsetidi, Project Team Leader, Financial Systems Department expressed interest in AFD opening credit lines to local institutions to finance green projects, women's entrepreneurship and climate change projects. In particular, the agency positively noted the experience of Almaty SEC in issuing a guarantee for "green bonds".

In turn, Almaty SEC told about its own infrastructure, industrial and social projects, activities of subsidiary organizations, preferential tools to support SMEs. The corporation emphasized that it is an advocate of ESG principles and supports all 17 UN Sustainable Development Goals.

As a result of the meeting, the parties agreed on further cooperation in order to study the prospects of AFD's participation in Kazakhstan's projects.

AFD, an agency of the French government, finances, supports and accelerates the transitions necessary to build a more just and sustainable world.

Recall that the intergovernmental agreement on the organization of AFD activities in Kazakhstan was signed by the President of France, E.  Macron November 1, 2023 in Astana. After ratification of the agreement, the first AFD interventions in the Republic are expected to begin.