The EDB and Kazakhstan’s Ministry of Water Resources and Irrigation strengthen cooperation in the water and energy sector
Astana, 20 September 2023. Nurzhan Nurzhigitov, Kazakhstan’s Minister of Water Resources and Irrigation, met with Nikolai Podguzov, Chairman of the Eurasian Development Bank’s (EDB) Management Board, to discuss collaboration in the water and energy sector.
During the meeting, Nikolai Podguzov underscored Kazakhstan’s leadership in EDB-funded investment and the significance of the Bank’s projects in the country. Kazakhstan holds the largest share of the Bank’s project portfolio. The EDB has invested US $5.6 billion in the country’s projects. In 2022, the EDB exceeded all of its targets and invested US $1.2 billion in Kazakhstan, a fivefold increase from the previous year. In the first eight months of the current year, the Bank has already committed over US $900 million to projects in Kazakhstan.
Nikolai Podguzov also elaborated on one of the EDB’s key investment mega-projects, the Water and Energy Complex of Central Asia. He emphasised that the successful implementation of this mega-project could contribute an additional 1.5% annual growth to the region’s GDP. The project also focuses on enhancing water use efficiency by 40%, a critical aspect for agricultural sustainability and food security in the region. The Bank focuses on this initiative, as it is expected to make a significant contribution to development in Central Asia and Kazakhstan in particular.
Bank analysts have conducted studies such as Investment in the Water and Energy Complex of Central Asia and Regulation of the Water and Energy Complex of Central Asia. This autumn, the EDB is set to release a new report on efficient irrigation and water conservation in the region, aimed at fostering cooperation and joint efforts to promote water and food security in Central Asia.
The Bank has approved financing for the reconstruction and expansion of the Astrakhan–Mangyshlak water pipeline in Kazakhstan and the construction of the 100 MW Kulanak HPP in the Kyrgyz Republic. Additionally, it is evaluating several projects to provide the region with additional water and energy infrastructure.
“We are ready to collaborate with all financial institutions, including the Eurasian Development Bank. We already cooperate with the Islamic Development Bank, the World Bank and other organisations,” said Nurzhan Nurzhigitov.
The minister also proposed that the Bank consider participating in financing the modernisation of the Kanysh Satpayev canal and the automation and digitalisation of Kazakhstan’s new Ministry of Water Resources and Irrigation without government guarantees.
“Enhancing Kazakhstan’s water supply is a top priority for us as this has a direct impact on living standards and agricultural development, particularly in the country’s southern and western regions. As an international development bank, we adopt a comprehensive approach to this task and stand ready to provide financial assistance and consultancy for water sector development, as well as to serve as a platform that brings together all stakeholders in Central Asia’s water and energy sector. Our partnership with the new Ministry of Water Resources and Irrigation marks a significant stride towards realising these goals,” commented Nikolai Podguzov.
The parties agreed to continue discussions on all vital issues, underscoring the strategic importance of this partnership for the water sector’s growth and economic development in the region.
Additional Information:
The Eurasian Development Bank (EDB) is an international financial institution promoting integration and development in its member countries. For more than 17 years, the Bank has worked to strengthen and expand economic ties and foster comprehensive development in its member countries. The EDB's charter capital totals US $7 billion. Its portfolio consists principally of projects with an integration effect in transport infrastructure, digital systems, green energy, agriculture, manufacturing, and mechanical engineering. The Bank’s operations are guided by the UN Sustainable Development Goals and ESG principles.
Eurasian Development Bank
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