The Senate has ratified new amendments regarding the operations of the EBRD.

In the chamber, it is believed that the amendments will facilitate quicker funding for projects in Kazakhstan.

https://total.kz/ru/news/finansi/ocherednie_popravki_v_deyatelnosti_ebrr_ratifitsiroval_senat_date_2025_01_09_12_17_252025-01-09 08:07:10

“In paragraph 1 of Article 12 of the current Agreement on the Establishment of the EBRD, a limitation is set on the nominal value of ordinary liabilities that the Bank may accept as part of its authorized capital. Currently, the maximum level of operational assets is defined at 92% of the total amount of equity capital,” said Senator Sergiy Karpliuk during a session of the chamber.

The senator reminded that today the decision regarding the capital adequacy level is made by the Board of Governors.

The Board of Governors includes 72 countries, which prolongs the process of coordinating and making decisions on financing issues. This is the highest level of the governing body, followed by the Board of Directors. The Board of Directors consists of 23 members representing country groups. Kazakhstan is part of a group led by a representative from Austria — Israel, Cyprus, Malta, Kazakhstan, Bosnia and Herzegovina.

“Thus, the adoption of the proposed amendments will enable the Bank to promptly address financing issues for economically significant projects in Kazakhstan,” the deputy added.