In fact, not many people in Kazakhstan ever had any idea of the fact that it had eyed pulling in at Kazakhstan. But that’s what we learn from KZBlog, who cites an article in the Sydney Daily Herald, about Allco, an Australian bank that had planned to invest in Kazakhstan.

According to the article, in 2007, Allco planned to open a fund with Kazyna, the Kazakhstan State development holding, with each donating $50 million. The Allco Kazyna Foreign Investment would have been open to foreigners, presumably providing investments to attract more direct investment in Kazakhstan. And then, shortly after the Parliament elections, Allco pulled out saying it was “too risky”. But there doesn’t seem to be much insight into what exactly happened.

, writes KZBlog. What we know is that Kazyna and Allco Finance Group were really close to shaking hands in creation of the joint investment fund - even a formal agreement had been signed in June 2007. The institution was meant to be involved in funding vital infrastructural projects in Kazakhstan (railways, energy stations etc.) on a concession basis.