BAKU, Azerbaijan, March 14. Memorandum of
Understanding was signed between Kazakhstan and the Asian
Development Bank (ADB), setting the direction of cooperation for
2026-2029, backed by $5.4 billion in indicative financing, ADB
President Masato Kanda wrote on his social media account, Trend reports.
"This reflects the scale of our shared ambition, promoting
regional cooperation, building resilience to natural hazards, and
reducing regional disparities," he noted.
Kanda also announced the signing of a loan agreement that will
translate the partnership into concrete investment in the transport
sector. The project will support the construction of a
102-kilometer bypass in southern Kazakhstan, aimed at strengthening
the country’s trade and transport links across the region.
"These agreements translate partnership into action, and action
into impact. ADB remains committed to working closely with
Kazakhstan as we advance sustainable and inclusive growth
together," he wrote.
During his visit to Kazakhstan, Kanda met with Deputy Prime
Minister and Minister of National Economy Serik Zhumangarin, who
also serves as ADB Governor for Kazakhstan.
As part of his regional visit, the ADB president is also
scheduled to visit Tajikistan and Georgia.
In 1994, Kazakhstan became the inaugural Central Asian nation to
join the Asian Development Bank (ADB). Since then, the Bank has
played a pivotal role in advancing the nation's development,
providing both sovereign and non-sovereign financing, along with
advisory services on public-private partnerships, technical
assistance, and knowledge-driven solutions. The Bank’s key areas of
engagement encompass public sector governance, transportation
infrastructure, financial systems, and the promotion of renewable
energy.
