BAKU, Azerbaijan, March 14. Memorandum of Understanding was signed between Kazakhstan and the Asian Development Bank (ADB), setting the direction of cooperation for 2026-2029, backed by $5.4 billion in indicative financing, ADB President Masato Kanda wrote on his social media account, TurkicWorld reports.
"This reflects the scale of our shared ambition, promoting regional cooperation, building resilience to natural hazards, and reducing regional disparities," he noted.
Kanda also announced the signing of a loan agreement that will translate the partnership into concrete investment in the transport sector. The project will support the construction of a 102-kilometer bypass in southern Kazakhstan, aimed at strengthening the country’s trade and transport links across the region.
"These agreements translate partnership into action, and action into impact. ADB remains committed to working closely with Kazakhstan as we advance sustainable and inclusive growth together," he wrote.
During his visit to Kazakhstan, Kanda met with Deputy Prime Minister and Minister of National Economy Serik Zhumangarin, who also serves as ADB Governor for Kazakhstan.
As part of his regional visit, the ADB president is also scheduled to visit Tajikistan and Georgia.
In 1994, Kazakhstan became the inaugural Central Asian nation to join the Asian Development Bank (ADB). Since then, the Bank has played a pivotal role in advancing the nation's development, providing both sovereign and non-sovereign financing, along with advisory services on public-private partnerships, technical assistance, and knowledge-driven solutions. The Bank’s key areas of engagement encompass public sector governance, transportation infrastructure, financial systems, and the promotion of renewable energy.
