Astana, Kazakhstan – September 4, 2024 — Islamic Development Bank (IsDB) President, H.E. Dr. Muhammad Al Jasser, participated in a strategic Roundtable Meeting of the Arab Coordination Group (ACG) with the Government of Kazakhstan on Wednesday, September 4, 2024, in Astana. The meeting aimed to deepen the strategic partnership between Kazakhstan and the ACG, with a focus on regional development and infrastructure. The session was chaired by H.E. Nurlan Baibazarov, Deputy Prime Minister and Minister of National Economy of the Republic of Kazakhstan.

During the meeting, H.E. The IsDB President Dr. Al Jasser highlighted the shared vision of progress, prosperity, and sustainable development that has driven the mobilization of over US$ 286 billion over the past 50 years. He underscored the enduring partnership between Kazakhstan and the ACG, emphasizing that the gathering symbolized a strong commitment to creating a powerful regional impact.

He also emphasized the IsDB’s commitment to supporting Kazakhstan's development goals through the recently signed Framework Program Agreement, which aligns with the country’s 2050 national development strategy. This agreement lays the foundation for key initiatives that focus on climate-resilient water management and infrastructure projects aimed at enhancing regional connectivity and driving sustainable economic growth.

The high-level meeting brought together the Presidents and high-ranking representatives from the OPEC Fund for International Development, Saudi Fund for Development, Abu Dhabi Fund for Development, Kuwait Fund for Arab Economic Development, and Qatar Fund for Development. The participants engaged in discussions on priority public economic development projects submitted by the Government of Kazakhstan for financing by the ACG members.

The meeting provided a platform for exploring co-financing opportunities for critical development initiatives that are vital to enhancing regional connectivity and promoting sustainable economic growth.

H.E. Nurlan Baibazarov expressed his appreciation for the continued support from the IsDB and the ACG, underscoring the importance of these partnerships in achieving Kazakhstan's long-term development objectives.

The Islamic Development Bank, in partnership with the ACG, remains ready t to supporting Kazakhstan in building a sustainable and resilient economy. The outcomes of this Roundtable Meeting are expected to facilitate the successful implementation of development projects that will benefit Kazakhstan and the wider region.