Kazakhstan, IDB Sign Infrastructure Agreement to Construct Reservoirs, Highways

ASTANA—Minister of National Economy Nurlan Baibazarov signed a $ 2 billion Framework Program Agreement between the Kazakh government and the Islamic Development Bank to construct reservoirs and highways.

Photo credit: primeminister.kz

According to the Prime Minister’s press service, the agreement was signed on June 27 during the forum organized by the Organization of the Petroleum Exporting Countries (OPEC) International Development Fund. 

The Kazakh Ministry of Water Resources and Irrigation has prepared 16 projects for financing this year, including constructing and reconstructing reservoirs, dams, irrigation canals, counter-regulators and related infrastructure. 

The Ministry of Transport has proposed four projects for the reconstruction and construction of highways of national importance, spanning over 500 kilometers.

The agreement includes provisions for regular consultations and monitoring to ensure the implementation and achievement of the set goals. It also consolidated the previously reached agreements on attracting long-term investments.

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