Kazakhstan Approves French Development Agency’s Operations
President Kassym-Jomart Tokayev ratified an agreement with France on Jan. 8, enabling the French Development Agency (AFD) Group to operate in Kazakhstan. The agreement, finalized during French President Emmanuel Macron's November 2023 visit, establishes legal, tax, and financial terms for AFD’s activities.
AFD will focus on health, social protection, water, sanitation, and irrigation, providing financial and technical expertise to strengthen public institutions. Its private sector arm, Proparco, will support local companies and financial institutions in finance, energy, microfinance, and agriculture.
The agreement exempts AFD from corporate income tax, allows it to open a representative office, and exempts it from local banking regulations.
Photo credit: gov.kz
