The Islamic Development Bank (IsDB) is set to allocate
$1 billion to Kazakhstan for the implementation of water management projects.
The country’s Government plans to use the funds to upgrade domestic water
infrastructure. Representatives of the relevant ministry and financial
institution signed a negotiation protocol. Once the agreement is concluded,
works will commence in nine regions of Kazakhstan.
«To
preserve the country’s water resource potential, we intend to conduct effective
flood control and increase the area of irrigated land. We also plan to build
and reconstruct reservoirs, water canals, and bodies of water. Funds will also
be allocated for the restoration of outdated infrastructure. A corresponding
loan agreement will be signed in early October,» said Nurlan Baibazarov, Kazakh
Deputy Prime Minister
and
Minister of
National Economy.
About 250 projects across various sectors, totaling nearly
$10 billion, were presented to investors from the Gulf countries. Members of
the Arab Coordination Group (ACG) expressed interest in financing some of the
domestic projects.
«Apart
from the water, we envisage to intervene in the transport sector, and we have
already identified good bankable projects that will follow. Since its
inception, the group level, of course, financed $1.6 billion. But only from
2024 to 2026, we have earmarked an envelope of $3.65 billion for Kazakhstan
only,» said
Anasse Aissami, Director General for
Country Programs at Islamic
Development Bank.
