IDB to invest over USD300 M in Kazakhstan’s economy
25 October 2016 18:21

IDB to invest over USD300 M in Kazakhstan’s economy

RIYADH.KAZINFORM. The Islamic Development Bank plans to invest over USD 300 mln in Kazakhstan's economy, head of Astana Financial Center Kairat Kelimbetov told journalists.

According to Mr. Kelimbetov, during the visit of President of Kazakhstan Nursultan Nazarbayev to Saudi Arabia there have been held joint intergovernmental meetings, and different ministries were working on cooperation opportunities with Saudi Arabia.

"Saudi economy is one of the largest in the Middle East. It is our main strategic partner in the region. Therefore it was critical to compare notes and agree on the directions of mutual cooperation in future", Kairat Kelimbetov said. He also added that productive talks have been held with the IDB experts. The meetings resulted in signing of Cooperation Memorandum with the Islamic Development Corporation.

The IDB plans to invest over USD 300 mln in Kazakhstan's economy during 2017-2020. The bank also intends to assist Astana international financial center and build the eco-system of Islamic financing within the framework of the constitutional law of Astana International Financial Center.

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