The Majilis of the Parliament of Kazakhstan approved the draft Law "On ratification of amendments to Article 1 of the Agreement on the Establishment of the European Bank for Reconstruction and Development, allowing for a limited and gradual expansion of the geographical coverage of the bank's operations to sub-Saharan Africa and Iraq."
The European Bank for Reconstruction and Development (EBRD, the Bank) is an international financial organization whose activities are aimed at supporting and developing countries with economies in transition.
The Bank has come up with a proposal to expand its operations to sub-Saharan Africa and Iraq.
The expansion of the EBRD's activities to new countries will not reduce the Bank's ability to maintain current operations, nor will it affect its obligations and sustainability.
Given that Africa and the Mediterranean are rapidly growing regions and have close economic ties with the EBRD's countries of operation, the Bank's initiative is economically justified and consistent with its strategic goals.
The amendments were approved by the Board of Governors in 2023.

Source : https://www.gov.kz/memleket/entities/minfin/press/news/details/887713