ADB Provides Comprehensive Overview Of Ongoing Projects In Kazakhstan
Date
7/17/2024 7:21:23 AM
(MENAFN- Trend News Agency)
ASTANA, Kazakhstan, July 17. The Asian
Development bank (ADB) has presented an overview of ongoing
projects in Kazakhstan, Trend reports.
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.
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