The Islamic Development Bank (IDB) will allocate a grant of $3.5 million to enhance the water sector in Kazakhstan, as reported by the Prime Minister's press service.
Additionally, the IDB will participate in the implementation of the project "Development of Climate-Resilient Water Resources," developed by the Ministry of Water Resources and Irrigation. Previously, the parties signed a Protocol of Negotiations for the first phase of the project.
The first phase of the funded project includes the construction of four new reservoirs and the reconstruction of four existing ones, as well as the renovation and major repairs of 115 canals, including a project for replenishing the Astana Reservoir. Construction activities will take place in the Akmolinsk, Almaty, Zhambyl, Kyzylorda, Turkestan, West Kazakhstan regions, the Zhetysu region, and in Astana.
Furthermore, the project involves technical cooperation between the IDB and the ministry in studying the issues of water and river basins by the Kazakh Scientific Research Institute of Water Management, as well as evaluating the implementation of early warning systems for the Information and Analytical Center for Water Resources.
This includes plans for equipping the republican state enterprise "Kazvodkhoz" and constructing an automation center to improve water resource management.
"The Head of State has repeatedly emphasized the importance of attracting investments in the water sector. We face the challenge of modernizing and adapting water infrastructure to the ongoing climate changes. Financing from a reputable institution like the Islamic Development Bank reflects the high level of trust in our country, the established investment policy, and the socio-economic reforms being implemented," noted Nurlan Baibazarov.
It is worth mentioning that it was previously reported about the signing of an agreement between the Government of Kazakhstan and the IDB for financing a water resource development project worth $1.1 billion. This document was concluded at the UN Climate Change Conference (COP29) in Baku. Deputy Prime Minister – Minister of National Economy Nurlan Baibazarov highlighted that this is the largest project funded by the Islamic Bank in its entire history.