ASTANA, Kazakhstan, November 13. The Islamic Development Bank (IsDB) has signed an agreement that is the largest in terms of financing in the 51-year history of the bank, Trend reports.
The Islamic Development Bank signed this agreement after negotiations with the President of Kazakhstan, which amounted to $1.153 billion, including a grant of $3.5 million.
On the margins of the 29th UN Climate Change Conference, the President of Kazakhstan Kassym-Jomart Tokayev met with the President of the Islamic Development Bank, Muhammad Suleiman Al-Jasser.
During the meeting, issues related to the implementation of the
agreements reached and the prospects for further cooperation were
discussed. Special attention was given to joint projects in the
field of environmental protection, including measures to mitigate
the effects of climate change and the transition to green energy.
Kassym-Jomart Tokayev emphasized the importance of these
initiatives in the context of global environmental challenges and
Kazakhstan’s commitment to sustainable development.
The President of Kazakhstan highly appreciated the results of the
roundtable of the Arab Coordination Group, held in September of
this year in Astana. The event demonstrated mutual commitment to
deepening multilateral cooperation in the implementation of
strategic projects. Tokayev also welcomed the signing of the first
phase of the financial and technical agreement for the project
"Development of Climate-Resilient Water Resources." The
implementation of this project will enable the construction and
modernization of 8 reservoirs, 1 control regulator, and 115 canals
with a total length of 3,450 km across 7 regions of Kazakhstan,
ensuring sustainable water supply for agricultural lands covering
more than 332,000 hectares.
In conclusion, Kassym-Jomart Tokayev expressed his gratitude to the
leadership of the Islamic Development Bank for their unwavering
support, which plays a crucial role in the sustainable economic
development of Kazakhstan.
The Islamic Development Bank is an international financial institution focused on Islamic finance. It is based in Jeddah, Saudi Arabia. Shareholders include 57 member countries, of which Saudi Arabia is the largest shareholder.