ALMATY, Jan. 9 (Xinhua) -- Kazakhstan's Senate has ratified amendments paving the way for the European Bank for Reconstruction and Development (EBRD) to gradually expand its operations to Sub-Saharan Africa and Iraq, the country's Kazinform News Agency reported on Thursday.
The EBRD has proposed extending its reach to these regions. The amendments to Article 1 of the Agreement are designed to strengthen international economic cooperation between member countries and recipient states, Senator Sergey Karplyuk said during a session of the upper house of the parliament of the Central Asian country.
He assured that this expansion would not compromise the bank's ability to support its current operations, jeopardize the EBRD's credit ranking (at AAA), or require additional capital contributions.
"For Kazakhstan, this move creates fresh opportunities to establish ties and invest in projects in African nations with vast populations and significant economic potential," the senator noted. ■
