Kazakhstan, Asian Development Bank sign memorandum on 15 projects worth $5.5 bln in 2026-2029

ASTANA. March 2 (Interfax) - Kazakhstan's government and the Asian Development Bank have signed a memorandum of understanding to deliver 15 projects costing approximately $5.5 billion in 2026-2029, the government press service said.

"The document opens up opportunities for new large-scale projects, among them regional interconnectivity, increasing resilience to natural disasters, water resources management, development of housing and utilities, the housing market and others. The ADB will also continue financing the private sector, including projects in the agricultural sector, transport and logistics," it said.

Prime Minister Olzhas Bektenov and ADB President Masato Kanda discussed expanding investment cooperation at a meeting on Monday. They considered projects in transport and logistics, digital technologies, green financing, development of AI, construction of data centers and digitalization of transport corridors and customs procedures.

In addition, JSC KazAvtoZhol and the ADB signed an agreement on the construction of a 102-kilometer bypass road around Saryagash with access to the border with Uzbekistan through the B. Konysbayev checkpoint. The project aims to divert transit traffic outside the city and develop cross-border trade.

The ADB was established in 1966. Its shareholders are 69 countries, 50 of which are located in the Asian region. The bank considers 46 of them to be developing countries in Asia.