BAKU, Azerbaijan, November 2. The European Bank
for Reconstruction and Development (EBRD) is providing a loan of up
to $10 million to Kazakhstan's Eurasian Machinery Kazakhstan (EMK)
to meet the company's working capital requirements and support its
expansion, according to the EBRD.
EMK, a leading supplier of excavators and other specialist
equipment, will use the financing to manage its warehouse stock
more efficiently, purchase spare parts for repair and rebuild
operations, and expand its service department.
The company is an official distributor of Hitachi Construction
Machinery and other internationally recognized industrial machinery
brands.
The project is also expected to help EMK expand its operations
in Kazakhstan and across Central Asia, while improving the
technical skills of its employees through tailored training
programs.
The EBRD said the financing would help improve efficiency in the
agriculture, construction, infrastructure and mining sectors in
Kazakhstan and the wider Central Asian region.
Kazakhstan joined the EBRD on July 27, 1992. The bank has
invested almost $13.6 billion in the country to date through 361
projects, making Kazakhstan the largest and longest-running
recipient of EBRD investment in Central Asia.
In Kazakhstan, the EBRD aims to boost private-sector
competitiveness and connectivity, as well as strengthen economic
governance. The bank also supports Kazakhstan's green transition
towards carbon neutrality and climate resilience, while promoting
economic inclusion and gender equality through greater
private-sector engagement.
