Islamic Development Bank to provide $2 bln for infrastructure projects in Kazakhstan

ALMATY. June 28 (Interfax) - The Islamic Development Bank will provide up to $2 billion to finance water and transport infrastructure projects in Kazakhstan, the Kazakh prime minister's press service said.

The government of Kazakhstan and the Islamic Development Bank have signed the relevant frame agreement.

"The document incorporated the earlier reached agreements on long-term investment in infrastructure projects this year in the water management and transport sectors. To this end, the Islamic Development Bank will provide up to $2 billion," the press service said.

The Water Resources and Irrigation Ministry has announced 16 projects that can be financed this year, including construction and modernization of water reservoirs, dams, irrigation canals, compensation reservoirs and related infrastructure. The Ministry of Transport proposed four projects for modernization and construction of national highways of over 500 km in length.