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ADB Executive Director Discusses Development Partnership with Kazakhstan

ASTANA, KAZAKHSTAN (14 July 2005) – The newly-elected Executive Director for Kazakhstan on the Board of Directors of the Asian Development Bank (ADB), M. Akram Malik, has concluded a three-day visit to Kazakhstan, where he held discussions with senior officials and private sector representatives.

“Kazakhstan has sound developmental vision and strategies to diversify its resource-based economy and ensure inclusive growth,” Mr. Malik said in Astana last week. “As a regional development partner based in Asia, where dynamic economic growth has been taking place, ADB could collaborate with Kazakhstan in the implementation of its developmental priorities with ADB’s knowledge-based products and services.”

Mr. Malik met with Sauat Mynbayev, Deputy Prime Minister concurrently Minister of Industry and Trade; Batyrkhan Issayev, Vice Minister of Economy and Budget Planning and ADB Alternate Governor; Aidar Arifkhanov, Vice Minister of Finance; representatives of Kazakhstan development institutions; and Senate Secretary General Erjan Utembayev, among others, and exchanged views on strategic aspects of Kazakhstan’s developmental efforts and ADB’s long-term developmental partnership with Kazakhstan.

“Given the importance of private sector in Kazakhstan’s developmental efforts, ADB’s private sector operations and complementary support from public sector operations could provide holistic developmental products to Kazakhstan,” stated Mr. Malik after the meetings.

Mr. Malik also met Deputy Chairman of the National Bank of Kazakhstan Askar Elemesov and representatives of financial sector in Almaty.

“Given Kazakhstan’s lead role in the Central Asia, strengthening collaboration with ADB in financial sector and further institutional strengthening will have developmental impact on a regional scale,” said Mr. Malik.

He discussed challenges facing small and medium enterprises in his meeting with the heads of SME support organizations, and explored how ADB could contribute to creating enabling environment for SMEs.

ADB is dedicated to reducing poverty in the Asia and Pacific region through pro-poor sustainable economic growth, social development, and good governance. Established in 1966, it is owned by 63 members, with 45 from the region. In 2004, it approved loans and technical assistance totaling $5.3 billion and $196.6 million, respectively.

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