ASTANA, Kazakhstan, September 4. Islamic Development Bank is committed to supporting Kazakhstan’s development goals, said Muhammad Al Jasser, President of IsDB, TurkicWorld reports.
He made the remark during a strategic Roundtable Meeting of the Arab Coordination Group (ACG) with the Government of Kazakhstan on Wednesday, September 4, 2024, in Astana.
"IsDB is committed to supporting Kazakhstan's development goals through the recently signed Framework Program Agreement, which aligns with the country’s 2050 national development strategy. This agreement lays the foundation for key initiatives that focus on climate-resilient water management and infrastructure projects aimed at enhancing regional connectivity and driving sustainable economic growth," he said.
To note, the high-level meeting brought together the presidents and high-ranking representatives from the OPEC Fund for International Development, Saudi Fund for Development, Abu Dhabi Fund for Development, Kuwait Fund for Arab Economic Development, and Qatar Fund for Development. The participants engaged in discussions on priority public economic development projects submitted by the government of Kazakhstan for financing by the ACG members.
The meeting provided a platform for exploring co-financing opportunities for critical development initiatives that are vital to enhancing regional connectivity and promoting sustainable economic growth.
The Islamic Development Bank has approved financing for 69 projects worth more than $1.6 billion in Kazakhstan since the beginning of cooperation. Of these projects, 56 have already been completed, and 13 are still ongoing.
