EBRD Blog

European Bank for Reconstruction and Development

Kazakhstan’s Missing Middle

By Ralph De Haas and Asel Isakova

Why do private equity funds have difficulties with finding interesting mid-sized investment opportunities in Kazakhstan? And why does economic diversification remain such an elusive policy goal for the Kazakh government?

These are complex questions to which the table below may provide a partial answer. It shows the contribution of small firms (less than 50 employees), medium-sized firms (50-250 employees), and large firms (>250 employees)…

Transport: staying on track

This year has been an exceptional one and the EBRD’s Transport team has played a big part in the Bank’s crisis response. Nearly doubling last year’s business volume, we’ve responded flexibly to client refinancing needs and ensured priority investments remain on track. Many smaller transport projects – particularly private sector investments in ports – have struggled to find funding since the start of the crisis and have turned to the

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EBRD launches Transition Report 2009

Today the EBRD published its annual Transition Report, which covers the past year’s developments in countries of the EBRD region and analyses their macroeconomic performance and transition to market economies.

 
 The question this year has been whether that transition is itself in crisis. The answer is “no”, according to Chief Economist Erik Berglof, who launched the report. “The fundamental growth model for the region remains intact. However,

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