ADB: Central Asian countries in strategic focus
The Asian Development Bank allocated over US$6.5 billion to the countries of Central and Western Asia last year. The funds were primarily directed to support the region in conditions of the coronavirus pandemic. The ADB summed up the results for 2020. In particular, the financial institute in cooperation with the Kazakh Government implemented several projects in Kazakhstan to minimize the consequences.
“In June, just three months after the beginning of the pandemic, the ADB provided the government with a loan worth US$1 billion to finance comprehensive measures to fight against the pandemic, minimize its negative impact on the economy, as well as support health system, social employment and protection of the population. In addition, we approved several grants. US$3 million was allocated to Health Ministry and Labor Ministry to procure and deliver essential medicines for the most vulnerable segments of the population,” said Nariman Mannapbekov, ADB Country Director in Kazakhstan.
Also, the ADB provided the state with US$7 million for the development of several projects in various sectors of the economy. These are “green” financing, the development of urban infrastructure, transport and tools of public private partnership.
“The Bank also gave a grant worth US$1 million to the Ministry of National Economy for the COVID-19 Solidarity Response Fund. Within the activities of this fund, the work is currently underway with the government to train and retrain personnel in fields that are expected to provide more opportunities for the development of business and employment. This is done to reduce the negative impact of the pandemic on the labor market,” said Nariman Mannapbekov, ADB Country Director in Kazakhstan.
Four projects are currently being implemented in the private sector in the country. One in the agribusiness, three in the energy sector, wherein two of the latter are aimed at the development of renewable energy sources. According to the three-year business plan, Kazakhstan is set to implement projects in the field of housing and utility services, transport and financial sectors. This list will be supplemented, noted in the ADB.
Translation by Saniya Sakenova
Editing by Saule Mukhamejanova