ASTANA, Kazakhstan, March 6. The Islamic Development Bank (IsDB) has implemented about 70 projects in Kazakhstan worth more than $1.6 billion since the beginning of cooperation, said the Minister of Foreign Affairs of Kazakhstan Murat Nurtleu, Trend reports.
He made the remark during a meeting with IsDB Chairman Muhammad Sulaiman Al Jasser, which took place as part of a visit to Saudi Arabia.
"Kazakhstan attaches great importance to cooperation with the IsDB. The Bank Group has implemented about 70 projects in the Republic of Kazakhstan worth more than $1.6 billion," he said.
The minister also informed the interlocutor about the economic potential of Kazakhstan.
In turn, the IsDB President expressed hope for further successful cooperation with Kazakhstan and the Bank’s participation in projects aimed at developing the Kazakh economy.
The parties also discussed topical issues of interaction, as well as the progress of a number of socio-economic projects being implemented in Kazakhstan with the participation of the Bank and its institutions.
To note, Kazakhstan joined the IsDB on November 30, 1995. Its share of the total subscribed capital of IsDB is ID 54.0 million, with a paid-up capital of ID 6.0 million. It is also a member of the ICD and ICIEC.
The Islamic Development Bank has approved financing for 69 projects in Kazakhstan since the beginning of cooperation. Of these projects, 56 have already been completed, and 13 are still ongoing.