EDB provides financing to SSGPO of Kazakhstan

The Eurasian Development Bank (EDB) has provided Kazakh iron ore miner Sokolov-Sarybai Mining and Production Association (SSGPO), a member of the Eurasian Group (ERG), with US$55 million in financing to develop the production of SSGPO export goods.

EDB has been cooperating with ERG for a long time, since 2016. SSGPO continued to promote the socio-economic development of the Kostanay region of Kazakhstan and supply iron ore concentrate and pellets to many markets in the Eurasian Economic Union (EAEU) and China. The EDB planned to increase cooperation with ERG on new production facilities and renewable energy projects.