Eurasian Resources Group enters into a principal agreement with China's NFC to complete the construction of its project in Africa; EXIM and ICBC to support the financing, Sinosure to provide the insurance
Eurasian Resources Group joins Kazakhstan’s efforts to fight the coronavirus, pledges around USD 10 mil to establish a Nazarbayev-led foundation
Eurasian Resources Group (ERG), a leading diversified natural resources group, has announced it will imminently commit 4.5 bn tenge (approx. USD 10 mil) for the creation of a national foundation in the Republic of Kazakhstan to combat the continuing spread of the COVID-19 virus. The foundation, set up by the first President Nursultan Nazarbayev, is geared towards supporting measures to minimise the damaging socioeconomic repercussions that the epidemic has had on the Central Asian nation.
The donation comes in addition to the 100 million tenge (approx. USD 22,000) contribution that ERG allocated to a series of preventative measures to support the fight against the virus in Kazakhstan’s capital Nur-Sultan, where the Group operates its largest corporate office in the country.
Dr Alexander Machkevitch, Chairman of the Board of ERG, said: “We stand ready to assist in order to prevent the spread of the virus which has already had a significant impact on the lives of many across the world. We hope that these resources will help catalyse an effective and rapid response from other businesses in Kazakhstan and help create a culture of shared responsibility in building the future of the country, which is the home of our company.”
ERG accounts for one-third of Kazakhstan's mining and metallurgy sector and is one of the largest employers and taxpayers. It owns and operates enterprises which are keystones of the country’s economy.