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Weekly Roundup: February 15-21, 2010
EBRD to Assist Kazakhstan in Diversifying Economy
The EBRD has announced it will inject $1 billion into the Kazakh economy to support a variety of projects aimed at diversifying the economy away from hydrocarbons. According to Silk Road Intelligencer (SRI):
“The EBRD aims to invest up to around $1 billion in projects to be identified in collaboration with the Kazakh Ministry of Industry and Trade and the Kazakh National Wealth Fund Samruk-Kazyna,” it said in a statement.
The investment comes after the EBRD announced its most recent strategy for Kazakhstan. The strategy envisions greater local equity investments, utilizing tenge denominated funds and focusing on corporate sector development. To read more please visit SRI here.
Azerbaijan Posts Significant Trade Surplus
Azerbaijan posted an $8.6 billion USD trade surplus, “exports accounted for 70.6 percent ($14,700,000,000) of the overall trade turnover while imported goods 29.4 percent ($6,100,000,000).” Day.az reports that Azerbaijan traded with 134 countries in the past year.
According to Day.az the breakdown in Azerbaijani surplus exports between CIS countries and the rest of the world detailed as, “… CIS countries added up to $3,000,000,000 and $17,900,000,000 with other countries.” Indicating Azerbaijan’s successful economic diversification away from former Soviet-era trading partners.
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