ADB, Kazakhstan to sign cooperation agreement

Photo: ADB, Kazakhstan to sign cooperation agreement / Economy news

Astana, Kazakhstan, May 4
By Daniyar Mukhtarov - Trend:

The Asian Development Bank (ADB) and Kazakhstan will sign a framework agreement on cooperation, ADB president Takehiko Nakao said at the opening of the bank's 47th annual meeting.

"I am pleased to announce that today, ADB and Kazakhstan will sign a new framework agreement on cooperation. This agreement will be a basis for cooperation between Kazakhstan's National Fund and the Asian Development Bank in financing the economic diversification, sustainable development and the inclusive growth in the country," Nakao said.

He went on to add that progress has been achieved not only in Kazakhstan.

"Undoubtedly, the Asian-Pacific region has made great strides in terms of economic growth and poverty reduction," the ADB president stressed.

Nakao also pointed out that the region will benefit from the high domestic demand and improvement of the prospects for the economic growth in industrialized countries.

"We expect the region's growth rate will stand at 6.2 percent in 2014 and 6.4 percent in 2015," the ADB president concluded.

Translated by L.Z.

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