Kazakhstan’s Water Sector Secures $1.15 Billion from IsDB at COP29
The Islamic Development Bank (IsDB) will invest $1.15 billion in Kazakhstan, marking the largest project in the bank’s 51-year history, as was reported during a Nov. 12 meeting between President Kassym-Jomart Tokayev and IsDB President Muhammad Sulaiman Al Jasser, according to Akorda.
Kazakhstan signed an agreement with the Islamic Development Bank (IsDB) for a record $1.15 billion to advance its water sector at the COP29 summit in Baku, along with an additional $3.5 million grant for sector development.
The first phase of the project will see the construction of four new reservoirs, reconstruction of four existing ones, and repairs to 115 canals, spanning 3,450 kilometers across seven regions, including the Astana counter-regulator. These efforts will support sustainable irrigation for over 332,000 hectares of agricultural land.
“Financing by such an authoritative institution as the IsDB demonstrates the high level of trust in our country, the investment policy we have built, and the socio-economic reforms we are implementing,” Baibazarov said.
Kazakh Deputy Prime Minister and Minister of National Economy Nurlan Baibazarov highlighted plans for technical collaboration with the IsDB, including research on water and river basin management through the Kazakh Scientific Research Institute of Water Economy. This initiative will also assess early response systems in the Information and Analytical Center for Water Resources.
The project will provide Kazvodkhoz, the national water operator, with technological upgrades and establish an automation center to enhance water resource management.
