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Kazakhstan’s Government and ADB to carry out joint research

18 june 2013, 16:17
0
ADB. ©Reuters
ADB. ©Reuters
Kazakhstan’s Government and Asian Development Bank (ADB) will be exchanging expertise, according to the country’s Ministry of Economic Affairs and Budget Planning.

“A memorandum on exchange of expertise and experience has been signed today by Minister of Economic Affairs Mr. Erbolat Dossayev and Mr. Xiaoyu Zhao, ADB Vice-President. The memorandum seeks to facilitate exchange of expertise, best practices (…) contribute to the country’s economy efficiency and secure novel solutions”, the statement reads.

Besides, the program envisages joint research to ensure growth and diversification of the economy (…), cooperation in the region, integration processes and the country’s stronger competitive edge.

The research will be financed by the country’s Government and the Bank on parity basis from 2013 to 2015.

According to the Economy Minister, cooperation with ADB is of great importance to Kazakhstan as the bank bolsters efforts to modernize the national economy and implement crucial social projects.

Xiaoyu Zhao emphasized that in Kazakhstan as an above-middle-income country the Bank considers cooperation alongside financial support, notably advanced solutions to complement capital investments.

ADB was established in 1966 under the Agreement Establishing the Asian Development Bank (Charter), which is binding upon the member countries that are its shareholders. As of 31 December 2010, ADB had 67 members, of which 48 were drawn from Asia and the Pacific region.

ADB is headquartered in Manila, Philippines and has offices worldwide including representative offices in North America (Washington, DC), Europe (Frankfurt), and Japan (Tokyo). ADB's mission is to help its developing member countries reduce poverty and improve living conditions and quality of life.

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