Kazakh President Kassym-Jomart Tokayev met with the President of the Islamic Development Bank (IsDB) Muhammad Sulaiman Al Jasser, the Akorda press service reported.
During the meeting, President Tokayev noted that, over the years of cooperation, the IsDB has become a reliable partner in supporting Kazakhstan’s national development priorities.
According to Akorda, the IsDB Group has provided more than $4.2 billion in financing to Kazakhstan to date, while its portfolio of ongoing and planned projects exceeds $3 billion.
In this context, Tokayev expressed gratitude to the financial institution’s management for supporting strategically important projects in water infrastructure, transport connectivity, and industrial development.
In recent years, the IsDB has approved the largest financing package in its history, including $1.15 billion in financing for Kazakhstan’s Climate Resilient Water Resources Development Project and $1.3 billion for the Development of Economic and Industrial Zones Project.
The parties also discussed prospects for cooperation under the new Partnership Strategy for 2027-2032. The President reaffirmed Kazakhstan’s commitment to building a long-term institutional partnership with the IsDB and maintaining a favorable investment policy.
Furthermore, Tokayev endorsed the IsDB’s proposal to hold the 2028 IsDB Group’s annual meeting in Kazakhstan. The investment event is expected to bring together representatives of the Bank’s member states, financial institutions and international investors.
