The Islamic Development Bank Expresses Interest in Participating in the Implementation of Socio-Economic Projects in Kazakhstan

Jeddah, June 10, 2024 – H.E. Mr. Madiyar Menilbekov, Ambassador Kazakhstan to Saudi Arabia visited the headquarters of the Islamic Development Bank (IsDB) in Jeddah.

During the visit, the Kazakh diplomat met with Mr. Issa Faye, Director General of the IsDB for Global Practice and Partnerships Directorate, during which the parties discussed ways to strengthen cooperation between the financial institution and Kazakhstan.

In particular, the IsDB is interested in participating in the implementation of important socio-economic and infrastructure projects in Kazakhstan in such areas as the agro-industrial complex, water management, energy, education and healthcare.

Ambassador Menilbekov stressed the importance of Kazakhstan's cooperation with the largest Islamic financial institution, and expressed hope that by the end of this year the parties will take concrete measures to implement the agreements reached earlier.

In his turn, IsDB Director General Issa Faye noted that Kazakhstan is an important partner of the Bank in the Central Asian region and expressed readiness for further effective development of cooperation and implementation of new projects aimed at sustainable development and economic growth of Kazakhstan.

At the end of the meeting, the parties agreed to remain working contacts and intensify efforts to achieve common goals.