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Astana, Kazakhstan • 26 September, 2023 | 16:12

AIIB and Kazakhstan Discuss Future Projects, Potential Logistics Boost

Economy Minister discussed cooperation with the Asian Infrastructure Investment Bank at the meeting in Egypt

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The Minister of National Economy and Kazakhstan’s Governor at the Asian Infrastructure Investment Bank (AIIB), Alibek Kuantyrov, participated in the 8th Annual Meeting of the Board of Governors of the Asian Infrastructure Investment Bank in Sharm El Sheikh, Egypt, QazMonitor reports citing the Ministry of National Economy.

The Minister highlighted projects related to renewable energy sources that were successfully implemented during the collaboration. Notably, the bank provided funding for the construction of a 100 MW wind power plant in the Zhambyl region and provided assistance in the battle against the pandemic.

Minister Kuantyrov emphasized the potential for future cooperation, particularly in the area of achieving carbon neutrality and advancing infrastructure.

"Kazakhstan is interested in implementing projects in various sectors of the economy. I would like to draw attention to the immense potential in the fields of energy, green economy, transportation, logistics, and agriculture," he stated.

Another promising area of cooperation is the utilization of the Trans-Caspian International Transport Route.

"Considering that our country lacks access to the sea and there is a growing interest in this route, the AIIB’s involvement would be useful in boosting cargo transportation and strengthening the logistics infrastructure along the East-West route," added Alibek Kuantyrov.

At the Annual Meeting of the AIIB's Board of Governors, Alibek Kuantyrov held a meeting with AIIB President Jin Liqun. The parties discussed the prospects for bilateral cooperation.

The Asian Infrastructure Investment Bank, established in 2016, primarily focuses on promoting economic development and enhancing infrastructure across Asia. The Bank’s priority sectors for funding include energy, transportation, logistics, urban and rural infrastructure.

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