
ADB Provides Comprehensive Overview Of Ongoing Projects In Kazakhstan
Information about the projects was presented to the First Deputy Minister of Foreign Affairs of Kazakhstan, Akan Rakhmetullin, on the part of Utsav Kumar, ADB's Country Director for Kazakhstan.
Among the projects, Kumar highlighted strengthening the electrical grid in southern Kazakhstan, developing hydropower through a public-private partnership, and implementing an energy transition mechanism aimed at using concessional and commercial capital to decommission or quickly repurpose coal and other fossil fuel power plants.
He also noted the importance of the recently adopted law on heat power in Kazakhstan, developed with the support of the ADB.
"ADB will continue to support Kazakhstan as part of its country strategy for 2023–2027," he said.
In turn, Rakhmetullin pointed out that 30-year cooperation with ADB has brought significant benefits to Kazakhstan, expressed in significant investments in the country's economy. He also noted that the partnership with the bank, aimed at supporting ongoing reforms to achieve more inclusive and sustainable development, will continue.
Following the meeting, the parties agreed to continue constructive cooperation in key areas.
To note, Kazakhstan joined the ADB in 1994. ADB has since committed about $7 billion in loans to the government and private sector, grants, and technical assistance.
Regional cooperation and integration initiatives under the Central Asia Regional Economic Cooperation (CAREC) program remain an integral part of ADB operations in Kazakhstan, which is chairing the program this year.

Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.
Most popular stories
Market Research

- Manuka Honey Market Report 2024, Industry Growth, Size, Share, Top Compan...
- Modular Kitchen Market 2024, Industry Growth, Share, Size, Key Players An...
- Acrylamide Production Cost Analysis Report: A Comprehensive Assessment Of...
- Fish Sauce Market 2024, Industry Trends, Growth, Demand And Analysis Repo...
- Australia Foreign Exchange Market Size, Growth, Industry Demand And Forec...
- Cold Pressed Oil Market Trends 2024, Leading Companies Share, Size And Fo...
- Pasta Sauce Market 2024, Industry Growth, Share, Size, Key Players Analys...
Comments
No comment