Asian Development Bank will allocate US$3 billion to Kazakhstan
The Asian Development Bank will allocate US$3 billion to Kazakhstan as part of the new partnership strategy for 2017-2021. As the representatives of the financial institute noted, the new program will focus on financing public-private partnership projects in the non-government sector. In addition, one of the main priorities of the bank’s new strategy is to support agriculture and develop agribusiness in Kazakhstan. The ADB is ready to offer loans in local currency, tenge. In order to develop the allocated funds, the Asian Development Bank intends to create a municipal infrastructure fund. In addition, the center for applied knowledge will be launched which plans to develop water resources management.
GIOVANNI CAPANNELLI, ADB COUNTRY DIRECTOR FOR KAZAKHSTAN:
- There are a number of areas where we are going to focus our support but first and foremost, is the agricultural sector, promoting economic diversification through dedicated investment and knowledge support in the agricultural sector. On the 25th of August we were the first ones to sign a memorandum of understanding with KazAgro under the supervision of Ministry of Agriculture and we lay down our possible supports in a number of areas.