ADB President, Kazakhstan President Discuss COVID-19 Assistance, Future Support

By India Education Diary Bureau Admin On Oct 10, 2021

MANILA — Asian Development Bank (ADB) President Masatsugu Asakawa and Kazakhstan President Kassym-Jomart Tokayev today discussed ADB’s support for Kazakhstan’s ongoing coronavirus disease (COVID-19) pandemic response and the country’s future development priorities.

“We commend the Government of Kazakhstan for its swift and comprehensive response to mitigate the impact of COVID-19,” said Mr. Asakawa. “ADB is firmly committed to helping Kazakhstan reduce the impact of the pandemic on vulnerable people, nurture sustainable growth, and support the transition to a low-carbon world.”

Mr. Tokayev expressed his appreciation for ADB’s important role in promoting the country’s socioeconomic development. In 2020, ADB approved a $1 billion assistance package to help the government mitigate the health, social, and economic impacts of the pandemic.

Mr. Asakawa said ADB is committed to helping Kazakhstan address climate change and meet its targets under the Paris Agreement. ADB is actively supporting renewable energy projects in Kazakhstan, including the provision of green financing instruments, and reforms in the country’s energy sector state-owned enterprises.

The two leaders also discussed ADB’s forthcoming 2022–2026 country partnership strategy for Kazakhstan. ADB will focus on supporting diversified and inclusive growth by boosting non-oil private sector development, raising public sector efficiency, and improving infrastructure.

ADB will seek to scale up its assistance in supporting economic and institutional policy reforms, small and medium-sized enterprise finance, and private–public partnerships.

Kazakhstan joined ADB in 1994. Since then, ADB has committed more than $6.4 billion in loans and more than $61 million in technical assistance, including ADB-administered cofinancing. Priority areas of investment include transport, finance sector development, agriculture, and renewable energy.

ADB is committed to achieving a prosperous, inclusive, resilient, and sustainable Asia and the Pacific, while sustaining its efforts to eradicate extreme poverty. Established in 1966, it is owned by 68 members—49 from the region.