Kazakhstan, ADB explore lucrative opportunities for collaboration

Kazakhstan, ADB explore lucrative opportunities for collaboration

BAKU, Azerbaijan, February 27. The Minister of Finance of Kazakhstan Madi Takiyev has met with the Director General for Central and Western Asia of the Asian Development Bank (ADB) Eugene Zhukov, where issues of promising areas of bilateral cooperation, as well as financing of Kazakh projects by the ADB were discussed, TurkicWorld reports.

Thus, Madi Takiyev noted the strategic nature of the partnership with the Asian Development Bank and its contribution to the socio-economic development of Kazakhstan.

"Over the years of partnership, Kazakhstan and ADB have managed to build mutually beneficial cooperation. ADB, through various instruments, continues to promote the reform agenda of the government of Kazakhstan, thanks to which the country currently has an active portfolio of cooperation and numerous successful programs have already been implemented. I would also like to emphasize the importance of the assistance provided to Kazakhstan in the form of technical support from the ADB, which creates opportunities to ensure the transfer of knowledge and experience," Takiyev said.

The meeting was also attended by acting Director of the Representative Office of the Asian Development Bank in Kazakhstan Mirzo Iskandar Gulamov and regional coordinator Botagoz Vaissova.

Meanwhile, the Asian Development Bank has invested (cumulative grants, technical assistance, and lending commitments) $6.8 billion in various projects in Kazakhstan since the start of cooperation on January 19, 1994.

In the field of public sector management, $2.6 billion was allocated, in the transport sector, $2.2 billion, in the finance sector, $1.2 billion, and in the energy sector, $427.5 million.

In addition, $191.5 million was allocated for agriculture, natural resources, and rural development; $38.9 million for water supply projects and other urban infrastructure services; $67.6 million for education, etc.