ADB: Kazakhstan needs 1.3 trillion tenge of investments for water supply projects
Kazakhstan needs 1.3 trillion tenge for projects to provide rural communities with drinking water. This was announced by the director of the permanent representative office of the Asian Development Bank in Kazakhstan Giovanni Capannelli at the parliamentary hearings, AzerNews reported citing Kazinform.
“Recently, we discussed the possibility of launching a new project to provide drinking water to rural communities with the government. It is expected that due to this project the current volume of water supply in rural areas will increase more than fourfold. We were informed that the total need for investments is about 1.3 trillion tenge. ADB is ready to consider supporting this project, taking into account Kazakhstan's need to find a source of funding outside the budget,” he said.
ADB can provide preferential financing within the framework of sovereign borrowing on very attractive terms, according to Capannelli.
“Taking into account the scale of investments and the impact of tariff increases, we suggest that the country's leadership consider a financing option with rather low costs and long-term benefits,” he added.