World Bank Ready to Provide Kazakhstan Up to $1 Billion a Year for Six Years

The World Bank is ready to provide up to $1 billion a year in financing to Kazakhstan for six years, as the two sides discuss a new 2026–2031 Country Partnership Framework, Orda.kz reports.

The potential financing package was reportedly discussed at a meeting between a World Bank Group delegation and Serik Zhumangarin, the Deputy Prime Minister and Minister of National Economy. The funding would support the strengthening of the private sector, infrastructure development and improved economic competitiveness.

The parties also reviewed the results of the previous 2020–2025 strategy. During this period, 14 projects worth $4.2 billion were implemented, including initiatives related to the Western Europe–Western China International Transit Corridor, the reconstruction of the Almaty–Khorgos road, and the modernization of irrigation and drainage systems.

Representatives of the International Finance Corporation said they plan to continue providing advisory support for public–private partnership projects and to expand investment activity, including lending, as well as encouraging greater involvement from private investors. They cited financing for the Almaty bypass railway project with Kazakhstan Temir Zholy as an example of a successful deal.

Key priorities for the next stage include the modernization of rail infrastructure, supporting micro and small businesses through financial institutions, and developing the agro-industrial sector, such as financing the delivery of modern farm machinery and deep grain processing projects.

The parties agreed to finalize the strategy draft and submit it to the World Bank’s Board of Directors for consideration.

Original author: Oksana Matviyenko