Kazakhstan and Asian Development Bank discuss future cooperation at Kazakh FM
The First Deputy Minister of Foreign Affairs of the Republic of Kazakhstan Akan Rakhmetullin met with Utsav Kumar, Country Director of the Resident Mission of the Asian Development Bank (ADB) in Kazakhstan, El.kz cites MFA.
The discussion centered on ADB’s current operations and future initiatives for bilateral cooperation. It also focused on developing and implementing joint projects in key sectors of the national economy and organizing high-level events for Kazakhstan’s chairmanship of the Central Asia Regional Economic Cooperation (CAREC) Program in 2024.
Akan Rakhmetullin emphasized that the 30-year partnership with ADB has significantly benefited Kazakhstan, with substantial investments contributing to the country’s economic growth. He expressed his confidence that the collaboration supporting reforms for more inclusive and sustainable development would continue.
Utsav Kumar provided an overview of ongoing projects, such as strengthening the electrical grid in southern Kazakhstan, developing hydropower through public-private partnerships, and implementing an energy transition mechanism. This mechanism aims to utilize concessional and commercial capital to accelerate the decommissioning or repurposing of coal and other fossil fuel power plants. He also highlighted the importance of the recently adopted heating law, developed with the bank’s support, and assured that ADB would continue its assistance for Kazakhstan as outlined in its Country strategy for 2023-2027.
The meeting concluded with a commitment from both sides to continue effective cooperation across various domains.
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