New ADB country director for Kazakhstan assumes office

News Hour:

New Asian Development Bank (ADB) Country Director for Kazakhstan Giovanni Capannelli assumed office yesterday and reiterated support for the government’s efforts to promote economic diversification and inclusive growth.

“Making the economy more competitive, diverse, and resilient to adverse external factors is critical to create good jobs, sustain economic growth, and ensure equitable development in Kazakhstan,” said Mr. Capannelli. “I am looking forward to further enhancing ADB’s already very strong partnership with the government, other key stakeholders, and development partners to support delivering the county’s development priorities. ADB is keen to substantially expand its operations in Kazakhstan.”

Mr. Capannelli, an Italian national, joined ADB in 2002. Prior to this appointment, he was ADB’s principal economist in the Central and West Asia Department and had held various other positions in ADB and the ADB Institute. He holds a doctoral degree and a master’s degree in Economics, both from the School of Economics of Hitotsubashi University in Tokyo, Japan, and a bachelor’s degree in Economics from the School of Political Economy of Bocconi University, Milan, Italy.

One of Mr. Capannelli’s first priorities in Kazakhstan is overseeing the preparation of ADB’s new country partnership strategy for 2017-2021 to help the country achieve its national development agenda.

Since joining ADB in 1994, Kazakhstan has received around $4.4 billion in sovereign and nonsovereign loans for agriculture and irrigation, education, finance, transport, water supply and sanitation sectors. ADB’s supports helped the country reach out to its neighbors by opening up transport routes, fostering private enterprise, supporting social equality, and developing knowledge products. Regional cooperation initiatives under the Central Asia Regional Economic Cooperation Program remain an integral aspect of ADB operations in Kazakhstan.

ADB, based in Manila, is dedicated to reducing poverty in Asia and the Pacific through inclusive economic growth, environmentally sustainable growth, and regional integration. Established in 1966, ADB in December 2016 will mark 50 years of development partnership in the region. It is owned by 67 members – 48 from the region. In 2015, ADB assistance totaled $27.2 billion, including cofinancing of $10.7 billion.

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