Kazakhstan, World Bank enhance economic cooperation with new investment strategies — Daryo News

Kazakhstan, World Bank enhance economic cooperation with new investment strategies

Nurlan Baibazarov, Deputy Prime Minister and Minister of National Economy, met with Anshula Kant, Managing Director and Chief Financial Officer of the World Bank Group, who introduced new financial instruments and guarantees designed to enhance Kazakhstan’s economic development and investment strategies.

Photo: Nurlan Baibazarov met with Anshula Kant to discuss financial instruments for economic developmentSource: Official information resource of the Prime Minister of Kazakhstan

During the meeting, the two officials explored Kazakhstan’s strategic plans for enhancing economic growth and attracting foreign investment. They exchanged ideas on mutual cooperation, focusing on joint projects in key sectors such as transport, energy, digital development, and social initiatives.

Baibazarov highlighted the positive trajectory of the partnership with the World Bank, expressing optimism that the collaboration would continue to bolster Kazakhstan’s reforms aimed at achieving inclusive and sustainable development.

Kant emphasized the World Bank’s commitment to expanding its engagement in Kazakhstan, particularly through the upcoming Country Partnership Strategy for 2026-2030, which will outline the key strategic priorities for future cooperation.

Photo: Anshula Kant, Managing Director and Chief Financial Officer of the World Bank GroupSource: Official information resource of the Prime Minister of Kazakhstan

The World Bank has a long-standing partnership with Kazakhstan, spanning over 30 years and guided by the Kazakhstan Country Partnership Framework (CPF) for 2020-2025. This partnership includes support from the International Bank for Reconstruction and Development (IBRD), the International Finance Corporation (IFC), and the Multilateral Investments Guarantee Agency (MIGA). 

The bank’s initiatives are aligned with the government’s priorities, informed by analytical work through the Joint Economic Research Program (JERP), which has been operational for over 20 years. Since its engagement, the IBRD has financed 50 projects totaling over $8bn.

Currently, the World Bank is involved in six active projects focusing on connectivity, water management, innovation and technology, landscape restoration, and education modernization, which are already yielding positive results. Notable achievements include constructing 1,600 kilometers of road along the International Transit Corridor from Western Europe to Western China, enhancing local connectivity and trade. Agricultural initiatives have improved irrigation and drainage over 76,000 hectares and developed 700 kilometers of lined canals. Furthermore, around 250,000 small and medium enterprises have benefited from innovative technology support.

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