Islamic Development Bank to allocate $1.15 bln for Kazakhstan's water infrastructure

ASTANA. Nov 13 (Interfax) - The Islamic Development Bank (IDB) will allocated $1.15 billion for Kazakhstan's water sector, the Kazakh government said in a press release.

The relevant agreement was signed during the UN Climate Change Conference (COP29) in Baku.

In addition to the investment, the IDB will provide a $3.5 million grant to support Kazakhstan's water management initiatives. The bank is also set to partner with the Water Resources and Irrigation Ministry in a project to develop climate-resilient water resources.

The first phase of the project will involve the construction of four new reservoirs, the rehabilitation of four existing ones, and the repair of 115 canals, including a supply project for the Astana Reservoir. Work will be carried out across various regions, including the Akmola, Almaty, Zhambyl, Kyzylorda, Turkestan, West Kazakhstan and Zhetysu regions, and Astana city.

The initiative also includes technical cooperation between the IDB and the ministry to study Kazakhstan's water and river basins, with support from the Kazakh Research Institute of Water Resources. Plans also include strengthening Kazvodkhoz's technical capabilities and establishing an automation center to improve water resource management.

Previously, it was reported that the IDB would allocate up to $2 billion for infrastructure projects in Kazakhstan this year, particularly in water management and transport. The Water Resources and Irrigation Ministry of has prepared 16 projects for financing this year.