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    Kazakhstan

    Kazakhstan launches $1bn investment in water management projects following spring floods

    Kazakhstan launches $1bn investment in water management projects following spring floods

    In a move aimed at bolstering Kazakhstan's water management infrastructure, Deputy Prime Minister and Minister of National Economy Nurlan Baibazarov has announced the launch of 16 priority projects. These projects, identified as crucial for the country's water sector, are set to receive investments totaling more than KZT 500bn ($1bn).

    Photo: Deputy Prime Minister and Minister of National Economy Nurlan Baibazarov
    Source: Official Information Source of the Prime Minister of the Republic of Kazakhstan

     

    Deputy Prime Minister Baibazarov highlighted the urgent need for infrastructure development following recent spring floods that exposed weaknesses in the existing system. He emphasized that the allocated funds will support the construction of reservoirs, irrigation canals, and the enhancement of technical capacities within water management services.

    The financing for these projects has been secured through preferential terms from the Islamic Development Bank, providing long-term funding at advantageous rates. This financial support is expected to play a pivotal role in addressing longstanding issues within Kazakhstan's water management framework.

    "As directed by the Head of State, our immediate focus is on upgrading equipment and facilities across the Ministry of Emergency Situations. Simultaneously, we are equipping the Kazvodkhoz system with essential resources," stated Minister Baibazarov.

    Additionally, he highlighted the allocation of funds under the "Zhasyl Damu" initiative, earmarked specifically for the modernization of forestry, water management sectors, and emergency response systems. More than KZT 200bn ($429mn) has been dedicated to this initiative, with initial equipment deliveries slated for later this year.

    The commencement of these projects marks a significant step forward in Kazakhstan's efforts to fortify its water infrastructure, ensuring greater resilience against natural disasters and meeting the growing demands of agriculture and urban development.

    The Deputy Prime Minister expressed confidence in the timely execution of these initiatives, stressing their crucial role in safeguarding the nation's water resources for future generations. 

     

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    25.06.2024, 14:30   Comments (0)   1256
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