Kazakhstan, ADB Discuss Strategic Cooperation, Sign $5.5 Billion Investment Program
2026-03-03 - 08:06
The Astana Times provides news and information from Kazakhstan and around the world. ASTANA – Kazakh President Kassym-Jomart Tokayev met with Asian Development Bank (ADB) President Masato Kanda on March 2 to discuss expanding cooperation and launching major projects in key sectors to support Kazakhstan’s sustainable growth and structural modernization. President Kassym-Jomart Tokayev with Asian Development Bank (ADB) President Masato Kanda. Photo credit: Akorda Tokayev noted that over more than three decades of partnership, the ADB has financed more than 170 projects in Kazakhstan worth over $7 billion, contributing to infrastructure development, economic diversification, and improved living standards, reported Akorda. The ADB plans to finance initiatives in housing construction, emergency management and other strategic areas. Kanda highlighted Kazakhstan’s leadership in digital technologies and artificial intelligence, as well as its strong potential in the development of critical minerals, pointing to opportunities for large-scale investment. Talks with Prime Minister focus on investment and infrastructure On the same day, Prime Minister Olzhas Bektenov and Kanda discussed expanding investment cooperation and funding infrastructure and socially significant projects. Priority areas include transport and logistics, disaster resilience, digital development, green financing and housing. The officials also explored collaboration in artificial intelligence, data center construction, fiber-optic networks, and the digitalization of transport corridors and customs procedures, reported the Prime Minister’s press service. They reviewed progress on a public-private partnership project to build a 300-bed university hospital in Karagandy, designed to train medical personnel and integrate research into practical healthcare. $5.5 billion investment program through 2029 The government and the ADB signed a memorandum of understanding covering 15 projects worth approximately $5.5 billion for 2026-2029. The agreement paves the way for initiatives in regional connectivity, disaster resilience, water resource management, housing and utilities, and broader housing market development. The ADB will also continue supporting private-sector projects, including in agriculture, transport, and logistics. In addition, KazAvtoZhol national company and the ADB signed an agreement to construct a 102-kilometer bypass road around Saryagash, linking to Uzbekistan via the Bauyrzhan Konysbayev border crossing. The project is expected to redirect transit traffic outside the city, improve road safety, reduce travel time and enhance trade efficiency between Kazakhstan and Uzbekistan.