Tokayev’s Meeting with ADB President Reveals $300 Million Deal for Highway Project

ASTANA – President Kassym-Jomart Tokayev met with Asian Development Bank (ADB) President Masatsugu Asakawa on Nov. 8, where they discussed future economic priorities, including a $300 million agreement for constructing the Kyzylorda-Zhezkazgan highway. The meeting took place during Asakawa’s visit to Kazakhstan for the 23rd Central Asia Regional Economic Cooperation (CAREC) Ministerial Conference, reported the Akorda press service.

President of Kazakhstan Kassym-Jomart Tokayev and Asian Development Bank President Masatsugu Asakawa. Photo credit: akorda.kz

Tokayev congratulated Asakawa on 30 years of successful partnership between Kazakhstan and the ADB, emphasizing Kazakhstan’s appreciation for ADB’s contributions to infrastructure development and strengthening its financial sector. Since 1994, ADB has funded close to $7 billion in projects across Kazakhstan, including the Western Europe-Western China international highway and the Aktobe-Kandyagash road reconstruction.

Highlighting Kazakhstan’s efforts to liberalize its economy and attract investment, Tokayev outlined priority areas for collaboration, with a particular emphasis on decarbonization initiatives. Asakawa commended Kazakhstan’s economic reforms and sustainable development progress, reaffirming ADB’s commitment to support infrastructure, social sector advancements, and improvements in the investment climate.