Kazakhstan and World Bank Discuss Strategic Partnership at One Water Summit in Riyadh

Riyadh, The Gulf Observer: On the sidelines of the One Water Summit in Riyadh, Kazakhstan’s President Kassym-Jomart Tokayev met with Ajay Banga, President of the World Bank Group, according to a report from the Akorda press service.

During the meeting, President Tokayev emphasized the importance of the strategic partnership between Kazakhstan and the World Bank. He highlighted the ongoing collaboration, noting that Kazakhstan and the World Bank are currently implementing five major joint projects valued at $3.5 billion. These projects cover key areas such as water resources, transport, and education.

The Kazakh President also expressed appreciation for the World Bank’s financing of Kazakhstan’s $650 million project, launched under the Transport Resilience and Connectivity Enhancement (TRACE) program. He underscored the strategic importance of such investments for the development of the Middle Corridor, particularly in the repair of the Zhezkazgan-Karaganda highway.

Ajay Banga praised the high level of cooperation between the World Bank and Kazakhstan and affirmed the bank’s readiness to further enhance collaboration. He expressed interest in implementing additional major joint projects across various sectors of Kazakhstan’s economy.

To strengthen the dialogue and explore long-term opportunities for joint initiatives, President Tokayev invited President Banga to visit Kazakhstan.