The Islamic Development Bank is ready to expand cooperation with Kazakhstan

Jeddah, April 13, 2023. H.E. Mr. Berik Aryn, the Ambassador of Kazakhstan to Saudi Arabia, visited the headquarters of the Islamic Development Bank in Jeddah (Kingdom of Saudi Arabia), where he met with H.E. Mr. Mohammed al-Jasser, the President of the IsDB Group.

During the meeting, the Kazakh diplomat handed the head of IsDB an invitation letter from H.E. Mr. Kassym-Jomart Tokayev, the President of the Republic of Kazakhstan, to participate in the Astana International Forum, scheduled for June 8-9 this year.

The Ambassador emphasized that this event is an essential platform for discussing topical issues of the world economy and presenting new ideas and initiatives aimed at sustainable development and stability of the global market.

Regarding bilateral cooperation between Kazakhstan and the IsDB, Berik Aryn proclaimed the readiness of the Kazakh side to expand further and strengthen mutually beneficial cooperation with the most prominent Islamic financial institution.

In addition, the Kazakh diplomat briefed on the progress of reforms in Kazakhstan as part of the implementation of the initiative of the Head of State to build a «New and Fair Kazakhstan».

In particular, the Ambassador noted that the recent parliamentary elections and the formation of a new Government of Kazakhstan had become the final stage of a complete reset of key state institutions, following which Kazakhstan has entered a new phase in its democratic development.

The head of the IsDB accepted the invitation with gratitude and assured that he would make every effort to attend the Forum personally. He highly appreciated the ongoing reforms in our country and stressed that Kazakhstan is a crucial partner of the Bank in the Central Asian region. In this context, Mohammed al-Jasser noted that the IsDB is ready to expand cooperation with Kazakhstan.

The Republic of Kazakhstan has been a member of the IsDB since 1995. In August 1997, one of the four regional offices of the IsDB was opened in Almaty. It is responsible for coordinating the Bank's activities with the countries of Eastern Europe, the CIS, Mongolia, and China.

As of March 2022, the total amount of approved IsDB financing for Kazakhstan has reached around $1.6 billion.