President Tokayev Meets with ADB President to Strengthen Bilateral Cooperation

Astana, The Gulf Observer: President Kassym-Jomart Tokayev of Kazakhstan met today with Masatsugu Asakawa, the President of the Asian Development Bank (ADB), who is in Astana for the 23rd Ministerial Conference of the Central Asia Regional Economic Cooperation (CAREC) Program.

During their meeting, President Tokayev congratulated Asakawa on the 30th anniversary of Kazakhstan’s fruitful partnership with the ADB, noting that the strategic relationship between the two entities has played a crucial role in the development of key infrastructure projects and the strengthening of Kazakhstan’s national financial system.

Since 1994, the ADB has invested approximately $7 billion in Kazakhstan, contributing to significant projects, including the construction of the Western Europe–Western China international transport corridor and the reconstruction of the Aktobe–Kandyagash highway. These initiatives have been pivotal in enhancing Kazakhstan’s infrastructure and promoting regional connectivity.

The Kazakh President emphasized the continued importance of cooperation with the ADB, particularly in the context of Kazakhstan’s ongoing economic liberalization, investment climate improvements, and efforts to unlock the country’s economic potential. He highlighted decarbonization of the economy as a promising area for future collaboration.

In response, Masatsugu Asakawa expressed the ADB’s commitment to supporting Kazakhstan’s successful economic reforms and sustainable development. He reaffirmed the bank’s readiness to continue working closely with Kazakhstan on major projects aimed at modernizing infrastructure, improving social services, and strengthening the investment climate.

A key outcome of the meeting was the announcement of an agreement to finance the construction of the Kyzylorda-Zhezkazgan highway, which is set to be signed during Asakawa’s visit to Kazakhstan.

This meeting further underscores the long-standing and mutually beneficial relationship between Kazakhstan and the ADB, paving the way for continued collaboration in critical areas of infrastructure and economic development.