(MENAFN- Trend News Agency) ASTANA, Kazakhstan, December 4. Since 1994, the Asian Development Bank (ADB) has provided Kazakhstan with more than $7 billion in loans, technical assistance, and grants, Trend reports via the Ministry of Economy of Kazakhstan.

This was stated by Leah Gutierrez, ADB's Director General for Central and West Asia, during a meeting with Kazakhstan's Deputy Prime Minister and Minister of National Economy, Serik Zhumangarin.

"We expect further expansion of our partnership, not only in traditional sectors but also in new areas," Gutierrez noted.

She emphasized the importance of Kazakhstan's support during the vote on the amendment to the ADB Charter. With the required voting threshold being reached, the amendment will allow the bank to increase its total lending capacity by 50%, bringing it to over $36 billion. According to Gutierrez, this decision will significantly enhance ADB's ability to support developing member countries in addressing priority development issues.

Gutierrez added that ADB has launched a new policy this year focused on critical minerals, aimed at supporting value chains for strategic materials. The bank is ready to explore new projects in Kazakhstan, which holds strong potential in this field.

During the meeting, Zhumangarin shared that Kazakhstan's government is systematically working to improve public-private partnership (PPP) legislation, taking into account the best global practices and recommendations from international financial institutions, including ADB, the EDB, the EBRD, and the World Bank.

Additionally, Zhumangarin noted that ADB is a strategic partner for Kazakhstan. He mentioned that the main priorities of the ADB Country Partnership Strategy for Kazakhstan for 2023-2027 are right in line with the national development priorities of the country.

The ADB operates as a multilateral development finance entity, encompassing a consortium of 69 member states, with a predominant 50 situated within the Asia-Pacific corridor, while the remaining 19 are strategically positioned beyond this geographical nexus.

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