ADB expands co‑financing model for technical aid

The Asian Development Bank (ADB) plans to extend its technical assistance co‑financing model to new countries, with costs covered in Kazakhstan, ADB's Country Director for Kazakhstan, Utsav Kumar, stated, according to Report's correspondent in Almaty.

He made the announcement during the Eurasian Development Bank's (EDB) annual meeting and business forum at the session titled "Technical Assistance as a Catalyst for Investment: MDBs' Perspectives."

"We have implemented this approach in Kazakhstan since 2013 through the Knowledge and Experience Exchange Program (KEEP), and we are now applying it in other countries," Kumar said.

According to the director, under the KEEP program, ADB and the Kazakh government share costs at a minimum 50/50 ratio. The model covers projects related to knowledge transfer, institutional capacity building, and preparation of investment initiatives.

Kumar noted that this approach will increasingly be applied in upper‑middle‑income countries. He highlighted the model's advantages, including fostering mutual interest and responsibility between parties, and enabling international financial institutions to benefit not only from their own expertise but also from the experiences of other developing member countries of ADB.

He added that the bank continues its dialogue with Kazakhstan's state bodies and relevant institutions on co‑financing mechanisms.