The Islamic Development Bank is investing $1.15 billion in Kazakhstan's water sector.

Astana. November 13. KAZAKHSTAN TODAY - The Islamic Development Bank is investing $1.15 billion in Kazakhstan's water sector. The parties signed the corresponding agreement at the UN Climate Change Conference (COP29) in Baku, reported the government's press service.

Deputy Prime Minister - Minister of National Economy Nurlan Baibazarov noted that this is the largest project financed by the Islamic Development Bank in its history.

Additionally, the Islamic Development Bank will provide a grant of $3.5 million for the development of Kazakhstan's water industry.

The IDB will also participate in the implementation of the project "Development of Climate-Resilient Water Resources," developed by the Ministry of Water Resources and Irrigation. Previously, the parties signed a protocol of negotiations for the first phase of the project.

The first phase of the financed project involves the construction of 4 new reservoirs and the reconstruction of 4 existing ones, as well as the reconstruction and major repairs of 115 canals, including a project for the replenishment of the Astana Reservoir. Construction work will take place in the Akmolinsk, Almaty, Zhambyl, Kyzylorda, Turkestan, West Kazakhstan regions, the Zhetysu region, and in the city of Astana.

Furthermore, the project includes technical cooperation between the IDB and the ministry to study the issues of water and river basins by the Kazakh Scientific Research Institute of Water Management, as well as an assessment of the implementation of early response systems for the information and analytical center of water resources.

The plan also includes equipping the republican state enterprise "Kazvodkhoz" and constructing an automation center to enhance water resource management.

We face the task of modernizing and adapting water infrastructure to the ongoing climate changes. Funding from a reputable institution like the Islamic Development Bank demonstrates a high level of trust in our country, our established investment policy, and the socio-economic reforms being implemented," noted Nurlan Baibazarov.