Eurasian Resources Group (ERG) has announced it will imminently commit 4.5 billion tenge (US$10 million) 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 and the Government of Kazakhstan, 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 (US$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.
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.