Kazakh government, IsDB sign agr't to fund project on water resources development
President Kassym-Jomart Tokayev of Kazakhstan met Muhammad Sulaiman Al Jasser, Chairman of the Islamic Development Bank (IsDB) on the sidelines of the World Leaders Climate Action Summit at COP 29 in Baku, Azerbaijan, Akorda reports.
The meeting discussed the implementation of the agreements reached as well as prospects for further cooperation. Special attention was placed to joint projects in the field of environmental protection, including measures aimed at mitigating the impact of climate change and green energy transition. Tokayev pointed out the importance of these initiatives in the context of the global environmental challenges and the commitment of Kazakhstan to sustainable development.
During the meeting, the Kazakh leader commended the results of the roundtable of the Arab Coordination Group held in September this year in Astana, which demonstrated the mutual commitment to greater multilateral cooperation in implementing strategic projects.
The head of state welcomed the signing of the first stage of the financial and technical agreement regarding the project ‘Climate Resilient Water Resources Development,’ which will allow for construction and reconstruction of eight reservoirs, one counter regulator and 115 irrigation channels, with a length of 3,450km, in seven regions of Kazakhstan, providing sustainable water supply to agricultural lands with a total area of over 332,000 ha.
In conclusion, President Tokayev expressed gratitude to the leadership of the Islamic Development Bank for the unwavering support, which has a key role in Kazakhstan’s sustainable economic development.
Following the talks, the sides exchanged the signed documents worth 1,153 billion US dollars, including a grant of 3.5 million US dollars. The project is the largest in terms of financing in the 51-year history of the Bank.
