Water Projects: Islamic Development Bank to Allocate Over 1 Billion to Kazakhstan

This is the largest project in terms of financing scale in the entire history of the bank, Orda.kz reports, citing Aqorda.

As part of the climate summit in Baku, Qasym-Jomart Toqayev met with Mohammed Suleiman Al-Jasser, the President of the Islamic Development Bank. The heads agreed to cooperate.

The cooperation concerns the project “Development of water resources resilient to climate change,” within the framework of which eight reservoirs, one counter-regulator, and 115 canals with a length of 3,450 km in seven regions will be built and modernized in the country.

This will ensure sustainable water supply to agricultural lands covering an area of ​​more than 332 thousand hectares, the report says.

The agreement includes $1.153 billion, including a $3.5 million grant.

The Minister of National Economy, Nurlan Baibazarov, announced the document's signing.

Original Author: Raushan Korzhumbekova