business and economy
JP Morgan to help Kazakhstan raise $15 billion
JP Morgan Chase & Co. may help Kazakhstan raise $15 billion through borrowing and issue of securities in the next 5-7 years, Interfax Kazakhstan reported on Monday citing Bloomberg.
According to Bloomberg, Vice Chairman of Investment Banking at JP Morgan, Robin Renwick, said that Kazakhstan would receive short-term investments in its oil and gas sectors, and its steel, chemical and mining industries.
Renwick, who also sits on the board of directors of Kazakhmys Plc., an LSE-listed Kazakh copper company, sees strong prospects for Kazakhstan and does not believe that Kazakhstan should suffer significantly from the current global economic slowdown.
“The investors’ interest in Kazakhstan is still very high. We expect a lot of large projects to be implemented here,” he said.
“The influence of the world crisis on Kazakhstan economy is insignificant. The economy of Kazakhstan is very strong; there is no lack of foreign investments and confidence of foreign investors in the future of Kazakhstan.”
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