The World Bank’s portfolio of projects in Kazakhstan currently stands at $2.5bn, covering key sectors such as infrastructure, energy, and environmental sustainability. As Kazakhstan and the World Bank prepare a new Partnership Strategy for 2026-2030, both sides are committed to expanding cooperation and advancing strategic initiatives.
Deputy Prime Minister and Minister of National Economy of Kazakhstan, Serik Zhumangarin, met with World Bank representatives to discuss the ratification of the Framework Partnership Agreement (FPA), the expansion of analytical support, and the implementation of joint projects. The meeting included Regional Director for Central Asia Tatiana Proskuryakova, Regional Director for Infrastructure for Eastern Europe and Central Asia Charles Cormier, World Bank Resident Representative in Kazakhstan Andrei Mikhnev, and IFC Regional Manager for Kazakhstan, Kyrgyzstan, and Tajikistan Zafar Khashimov.
Zhumangarin emphasized Kazakhstan’s commitment to economic diversification, investment attraction, and infrastructure development, highlighting that the country anticipates GDP growth exceeding 5.6% in 2025. He noted that collaboration with the World Bank would help achieve sustainable economic progress and modernize key industries.
Among the projects discussed were the construction of the Kambarata HPP-1, modernization of roads including the Zhezkazgan-Karaganda route, the Northern Aral Sea project, and initiatives to stimulate innovation and develop science and technology. The modernization of Kazakhstan’s energy and utilities sectors was also a key focus.
Proskuryakova reaffirmed the World Bank’s commitment to supporting Kazakhstan’s strategic goals, emphasizing the importance of sustainable development and environmental initiatives, including efforts to restore the Aral Sea. She stated that the ratification of the FPA would create new opportunities for implementing joint projects and aligning Kazakhstan with international financing standards.
The government of Kazakhstan is also considering signing and ratifying the Results-Based Programs (RSP), which would streamline project implementation and enable quasi-state companies to secure financing according to international procedures.
Zhumangarin expressed appreciation for the World Bank’s ongoing support, emphasizing that the strengthened partnership would contribute to Kazakhstan’s long-term economic growth and modernization efforts.
