Baku, Azerbaijan, 9 November 2024 - During a meeting today on the sidelines of the UN Climate Conference in Baku, Azerbaijan, President of the Republic of Kazakhstan, H.E. Kassym-Jomart Tokayev, and the Chairman of the Islamic Development Bank (IsDB) H.E. Dr. Muhammad Al Jasser, discussed bilateral cooperation, climate action, infrastructure development, economic resilience, and sustainable growth. They praised the signing of a landmark $1.15 billion agreement for a groundbreaking Climate Resilient Water Resources Development Project.

IsDB Group Chairman expressed satisfaction about the IsDB Group's growing cooperation with the Government of Kazakhstan, which he declared has resulted in 74 high-impact projects and technical assistance operations Totaling US$ 2.8 billion, with all of the IsDB Group initiatives. This fully aligns with the development objectives of the Government to improve economic infrastructure, support new drivers of economic growth and address constraints to growth and competitiveness. He said IsDB approved an important project, which is part of the recently adopted National Infrastructure Plan focusing on the Climate Resilient Water Resources Development Program with a total amount of financing US$ 1.15 billion.

Dr. Al Jasser reiterated that IsDB is committed to providing support to critical infrastructure projects and essential social services. This exemplifies the robust and expanding cooperation between Republic of Kazakhstan and the IsDB Group paving the way for sustainable development.