Islamic Development Bank to finance water projects in Kazakhstan, first tranche scheduled for 2024The Islamic Development Bank (IDB) has pledged grants and financing for the construction and reconstruction of reservoirs, dams, and other water projects in Kazakhstan, according to the Prime Minister's press service.The Minister of National Economy, Nurlan Baybazarov, is currently in Saudi Arabia for the annual meeting of the IDB, where he met with IDB Group Chairman Dr. Muhammad Sulaiman Al Jasser, and the CEO of the Islamic Investment and Export Credit Insurance Corporation (ICIEC), Oussama Abdel Rahman Kaissi.The focus of the meeting with Muhammad Al Jasser was on financing projects to modernize Kazakhstan’s water infrastructure, which is a top priority for the government following this year's massive floods."An agreement was reached for large-scale investments by the IDB Group in water sector projects in Kazakhstan, along with grants for preparing relevant technical documentation. The first tranche is scheduled this year," the Prime Minister's press service reported.Urgent measures are planned for the construction and reconstruction of reservoirs, hydraulic structures, and irrigation systems, and the digitalization and adoption of water-saving technologies to preserve the country’s water resource potential and ensure security.Negotiations with ICIEC resulted in agreements on cooperation in reinsurance, insurance, and guarantees with organizations of the Baiterek holding. KazakhExport and the Development Bank of Kazakhstan are interested in joint projects with ICIEC in transport infrastructure, trade finance, and investment insurance.President Kassym-Jomart Tokayev announced plans to construct 20 new reservoirs and refurbish 15 existing ones to mitigate flooding in over 130 settlements. These spring floods in Kazakhstan are the worst in 80 years, resulting in the evacuation of over 119,000 people from affected areas. (ICE ALMATY)

Fonte notizia: Interfax