IDB invests more than USD 1 bln in Kazakhstan’s economy


IDB invests more than USD 1 bln in Kazakhstan's economy“The Country Partnership Strategy between the Kazakh Government and Islamic Development Bank Group for 2012-2014 provides more than USD 1 billion of investments in the economy of Kazakhstan,” Kazakh Vice Prime Minister – Minister of Industry and New Technologies Asset Issekeshev announced speaking at the international conference “The Day of Islamic Development Bank Group.”

“This strategy allowed to restructure our cooperation and invest in such key fields of economy as transport and energy infrastructure, agriculture, science and interregional cooperation,” A. Issekeshev told.

As of October 2012, the volume of the Islamic Development Bank Group’s financing to Kazakhstan made USD 987 million. Kazakhstan joined the Islamic Development Bank on November 30, 1995.

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Kazakh Government, IDB Group sign Country Partnership Strategy for 2012-2014


The Government of Kazakhstan and the Islamic Development Bank Group have signed a Country Partnership Strategy for 2012-2014 during the international conference “The Day of the Islamic Development Bank Group” on Thursday in Astana.

The Country Partnership Strategy is a new model of medium-term partnership of the IDB Group that will work in Kazakhstan within the framework of the state program of forced industrial innovative development.

The IDB Group will promote the development of transport, energy, agriculture sectors, as well as non-oil and gas industries, science and technology, diversification, financial sector, interregional cooperation.

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Kazakh President satisfied with IDB partnership and its support


Today Head of State Nursultan Nazarbayev has received president of the Islamic Development Bank Ahmed Mohammad Ali Al-Madani, the Akorda press service said.

Nursultan Nazarbayev expressed satisfaction with the level of partnership with the bank and its support rendered to Kazakhstan’s economy.

“We are interested in further cooperation. Kazakhstan was the first among the CIS countries to develop partnership program with your bank that is a reflection of high level of our partnership. The industrial and innovation program we implement creates great opportunities for bilateral cooperation,” Nursultan Nazarbayev said.

President Ahmed Mohammad Ali Al-Madani thanked Nursultan Nazarbayev for the meeting.

Besides, the parties debated further ways to strengthen mutual cooperation. Attention was paid to setting up an innovation centre and food security fund between the OIC member states, development of Almaty city as a regional centre of Islamic financing.