BAKU, Azerbaijan, October 20. The Asian Development Bank (ADB) has announced its commitment to support Kazakhstan in a range of critical areas aimed at improving public and social service delivery, implementing structural reforms, and advancing decarbonization efforts within the energy and heating sectors, Trend reports.
According to the bank, ADB's initiatives will also promote public-private partnerships and foster regional cooperation and integration through the Central Asia Regional Economic Cooperation (CAREC) Program.
As part of its efforts to upgrade infrastructure, ADB is processing a loan to reconstruct a 208-kilometer stretch of road between Kyzylorda and Zhezkazgan in Ulytau oblast, with plans for the project to commence in 2024. This investment is expected to significantly enhance the road network in central Kazakhstan, facilitating better transportation and connectivity.
In 2023, ADB launched a five-year country partnership strategy for Kazakhstan that focuses on several key priorities: enhancing economic resilience, addressing climate change, improving governance, boosting human development, and reducing inequalities. This comprehensive strategy adopts a "One ADB" approach, emphasizing the importance of nonsovereign operations to facilitate private sector involvement in development projects.
Through this strategy, ADB aims to expand its private sector operations, including public-private partnerships, to drive economic growth and innovation in Kazakhstan. Additionally, ADB will continue to provide the Kazakh government with essential knowledge solutions designed to bolster the country's economic competitiveness.
With these initiatives, ADB reaffirms its commitment to supporting Kazakhstan's development objectives and enhancing the well-being of its citizens through improved services and infrastructure.