EBRD investments into Kazakhstan equal 500 mln euros

/IRBIS, Apr.27, 00/ - REUTERS informs, with the reference to acting president of EBRD Charles Frank, that EBRD investments into Kazakhstan equal 500 mln euros, with another 150 mln euros approved by the Board of EBRD. He informed of this after his meeting with the president Nursultan Nazarbaev. Frank is in Almaty for Eurasian summit held under the aegis of the World economic forum of Davos. Acting president named several projects where his organization would like to invest, such as the purchase of 30% stake in JSC "Kazakhtelecom", 15% of Kazkommertsbank and 15% from the government of the country. He said they were interested in solving legal matters with Kazakhstani government to make it possible for EBRD to buy some shares of Kazakhtelecom. It is said that the amount will reach $70 mln, though in June, 1999 the minister of transportation and communication of Kazakhstan Serik Burkitbaev gave the number $100 mln. Energy sector could be an option for EBRD, is said. Charles Frank said they had made an agreement with AES (USA) to invest into this company that generates and distributes electricity in Eastern Kazakhstan. He said the loan to AES might reach $30 mln. EBRD might participate in privatization of gold producing Vasilkovskii GOK, is said. The tender may take place this year already. He mentioned that it was important for them that the tender to be held honestly with the participation of independent consultants.