The project for the development of water resources will be financed by the Islamic Development Bank. This agreement was signed by the Kazakh government with the IDB during the World Climate Summit in Baku, as reported by the business information center Kapital.kz, citing the press service of the Akorda.
"Deputy Prime Minister – Minister of National Economy Nurlan Baibazarov announced that during the World Climate Summit, in which the head of state is participating, an agreement was signed between the Government of Kazakhstan and the Islamic Development Bank regarding the financing of the water resources development project," the statement said.
According to Nurlan Baibazarov, the IDB will allocate $1.153 billion for the implementation of the project.
It is worth noting that earlier the Deputy Prime Minister announced the signing of this agreement.
"There are preliminary intentions to finance about 30 projects in Kazakhstan for a total of over $7 billion in sectors such as water resource management, construction and reconstruction of transport infrastructure, healthcare, the oil and gas sector, as well as education. Work with international financial institutions has been intensified, and projects for green infrastructure, processing industries, and other areas totaling about $9.5 billion are under consideration," the Deputy Prime Minister noted.