Central, Eastern and Southeast Europe growth holds firm in 2026, says wiiw
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The Islamic Development Bank signed a memorandum of understanding to support a strategic road project in Kazakhstan, paving the way for potential funding of up to $1.4bn, state media reported on July 1.
The agreement points to the bank's role in financing regional transport infrastructure in Central Asia, as Kazakhstan positions itself as a transit and logistics hub linking Asia and Europe.
The MOU, to support preparation of the Kyzylorda-Saksaulsk republican road project, was signed after Islamic Development Bank Group President Muhammad Al Jasser met Kazakhstan's Transport Minister Nurlan Sauranbayev in Astana.
Discussions focused on modernising Kazakhstan's transport sector, including multimodal connectivity, logistics services, regional trade corridors and climate-resilient infrastructure.
Al Jasser praised Kazakhstan's vision to strengthen transport connectivity as a driver of economic growth and regional integration, and a key factor in deepening cooperation between Asia and Europe.
The Kyzylorda-Saksaulsk corridor is seen as a pivotal project for strengthening regional connectivity and cementing Kazakhstan's position as a leading transit and logistics centre.
The agreement establishes a framework for cooperation on preparing joint projects to develop safe, resilient and connected transport infrastructure, supporting regional connectivity and sustainable economic growth.
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