Islamic Development Bank to provide $2 billion to Kazakhstan in 2015 – 2017
Baku, Azerbaijan, May 27
By Elena Kosolapova - Trend:
The Islamic Development Bank and Kazakhstan inked $2 billion framework agreement aimed at enhancing cooperation in 2015-2017, the bank reported.
The agreement was signed by Chairman of the Islamic Development Bank Group Dr. Ahmad Mohamed Ali and Kazakh Prime Minister Karim Massimov on the side lines of the 7th Astana International Economic Forum.
The agreement follows a similar 2012-2014 partnership document signed earlier between the two sides, towards bringing sustainable and comprehensive development to Kazakhstan in all sectors.
While in Astana, the IDB Group Chairman discussed ways for promotion of ongoing cooperation between IDB Group and Kazakhstan in separate meetings with the Kazakh Prime Minister, as well as Deputy Prime Minister, Minister of Industry and New Aset Issekeshev.
Since joining the IDB in 1995, Kazakhstan has received $1.2 billion worth of financing from the IDB Group inclusive of 22 projects in such sectors as agriculture, education, roads, and water supply in addition to foreign trade financing.