BAKU, Azerbaijan, March 22. Asian Development Bank (ABD) welcomes Kazakhstan’s new Carbon Neutrality Strategy 2060, which the ADB contributed to during the preparatory stages, a source at the ADB told Trend.
The representative said that in line with the Bank’s new Energy Policy approved in 2021, ADB will support institutional development, policy reforms, and regional energy cooperation through integrated approaches.
The source also noted that the Asian Development Bank Kazakhstan’s commitments under its Strategy 2060, the Sustainable Development Goals, and the Paris Agreement.
ADB’s current portfolio in Kazakhstan includes several grants and non-sovereign projects supporting climate mitigation and adaptation and helping with the country’s energy transition.
"For example, we recently supported the development of the 100-megawatt M-KAT solar power plant and the 50-megawatt Baikonyr solar power plant," the Bank representative said.
The source concluded by saying that ADB, as Asia and the Pacific’s climate bank, will continue providing financing and knowledge solutions to promote energy efficiency, develop renewable energy, and mitigate climate change, including the planned phase-out of coal.