ASTANA, Kazakhstan, September 20. The Eurasian Development Bank approved for subsequent financing such projects as the reconstruction and expansion of the "Astrakhan-Mangyshlak" main water pipeline in the Republic of Kazakhstan and the construction of the "Kulanak" hydroelectric power station with a capacity of 100 MW in the Kyrgyz Republic, Trend reports.
This was stated during a meeting between the Minister of Water Resources and Irrigation of the Republic of Kazakhstan Nurzhan Nurzhigitov and the Chairman of the Board of the Eurasian Development Bank (EDB) Nikolay Podguzov.
In addition, a number of projects are under development to provide the region with additional water and energy infrastructure.
During the meeting, Nikolay Podguzov noted the leading position of Kazakhstan in terms of the volume of investments provided by the EDB as well as the importance of the projects implemented by the bank in the country. "Kazakhstan ranks first in the bank's project portfolio. The EDB invested $5.6 billion in projects in the Republic. In 2022, the EDB exceeded all targets, increasing investments in Kazakhstan five times compared to the previous year, reaching an amount of $1.2 billion. During the first 8 months of this year, the EDB has already allocated more than $900 million to projects in Kazakhstan", he said.
Nikolay Podguzov also spoke about one of the key investment megaprojects of the EDB, "Water and Energy Complex of Central Asia".
In turn, Minister Nurzhan Nurzhigitov noted that Kazakhstan is ready to cooperate with the Eurasian Development Bank as well as with other international financial institutions, including continuing work with the World Bank and the Islamic Development Bank.
The parties agreed on further active interaction on all important issues, which emphasizes the strategic importance of this partnership in the field of water resources and economic development in the region.