IDB to invest up to $2 billion in infrastructure of Kazakhstan
At the Forum led by the OPEC Fund for International Development, Deputy Prime Minister - Minister of National Economy of the Republic of Kazakhstan Nurlan Baibazarov held a number of bilateral meetings with Islamic development institutions of the Arab Coordinating Group and signed the Framework Treaty between the Government of the Republic of Kazakhstan and the Islamic Development Bank, El.kz reports citing the Ministry of National Economy of the Republic of Kazakhstan.
The Treaty consolidated the agreements reached earlier on attracting long-term investments to start implementing infrastructure projects this year in the water management and transport sectors. For this purpose, the Islamic Development Bank is to allocate up to $2 bln.
The Ministry of Water Resources and Irrigation has developed 16 projects ready for financing this year including construction and reconstruction of reservoirs, dams, irrigation canals, counter-regulators and related infrastructure. The Ministry of Transport proposed 4 projects for the reconstruction and construction of roads of republican importance with a total length of more than 500 km.
The Treaty provides for regular consultations and monitoring of the implementation of joint projects to ensure the successful implementation and achievement of the set goals.
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