The World Bank Group mission is to end extreme poverty and boost shared prosperity on a livable planet
The World Bank
Group (the WBG) comprises five multilateral
institutions—International
Bank for Reconstruction and Development (IBRD), International Development Association
(IDA), International Finance Corporation
(IFC), Multilateral Investment Guarantee Agency
(MIGA), and International Center for
Settlement of Investment Disputes (ICSID)—working together to reduce
poverty and promote sustainable development with knowledge, financing, and
expertise. WBG provides financing and policy advice to member countries, investing
in private sector growth, investment guarantees, and investment dispute
settlement to promote resilient and sustainable growth.
Since its
inception in 1944, the World Bank Group has expanded from a single institution
to a closely associated group of five development institutions. Its mission has
evolved from its initial role as the International Bank for Reconstruction and
Development—facilitating post-war reconstruction and development—to its
present-day mandate of worldwide poverty alleviation.
IBRD and IDA,
collectively known as the World Bank, play complementary roles by financing
development projects and providing policy advice to fostering progress in
middle-income countries and addressing poverty in the world’s poorest nations.
IFC—the largest global development institution dedicated to the private sector,
improves lives in developing countries by promoting private sector growth and
connecting economic development with humanitarian needs. MIGA promotes foreign
direct investment into developing countries to support economic growth by
providing guarantees to investors and lenders. ICSID is a platform for
investor-state dispute settlement in most international investment treaties and
in numerous investment laws and contracts.
Guided by a
vision of a world free of poverty on a livable planet, the WBG collaborates
with governments, private sector stakeholders, and civil society to tackle
global challenges and advance inclusive development.
FINANCIAL PRODUCTS
AND SERVICES
The WBG provides
low-interest
loans,
interest-free credits and grants to member countries, as well as commercial
financing and advisory services to private sector and quasi-governmental institutions
and guarantees. We support the development
of education, health, public administration, infrastructure, manufacturing, financial
sector, agriculture, and environmental and natural resource management.
Many partners request
help in managing initiatives across a wide range of sectors and developing
regions. Some projects are co-financed with governments, and other multilateral
institutions, as well as with commercial banks, export credit agencies, and
private sector investors. We leverage our own resources with resources of
bilateral, multilateral donors, and corporate donors who trust their funds to
the WBG to maximize the impact of development assistance.
In addition to
providing financial resources, the WBG offers support to developing countries
and private sector partners through policy advice, research and analysis, and advisory
services. Its analytical work often underpins WBG financing and helps inform
developing countries’ own investments. In addition, it supports capacity
development to ensure that countries and their private sector access the best
global expertise and promote the use of cutting-edge knowledge. The WBG
constantly seeks to improve its methods of disseminating knowledge with clients
and the wider public.
WORLD BANK GROUP
IN KAZAKHSTAN
Kazakhstan
joined the World Bank in 1992, IFC and MIGA in 1993, and ICSID in 2000. Since
then, the World Bank has provided 45 loans to the country, worth over US$8
billion, while IFC’s cumulative investments exceeded US$2.5 billion across more
than 60 projects.
We are happy to
witness that our joint efforts have contributed to achieving such excellent
results on the ground like the restoration of the Northern Aral Sea and
two-fold increase of the volume of water, preservation of forests,
modernization of the country's energy supply system.
Key infrastructure improvements, such as the
enhancement of major roads and airports, also highlight this progress. Landmark
projects in this sector include the structuring and tendering of the BAKAD PPP
project and financing for Almaty Airport’s new passenger terminal.
Significant strides have also been made in
professional and technical education, healthcare modernization, and technology
commercialization. Complementing these efforts, the Group has provided targeted
support to micro, small, and medium enterprises (MSMEs)—including women
entrepreneurs and rural agribusinesses—through local financial institutions,
fostering inclusive growth and economic resilience.
WBG is supporting Kazakhstan’s decarbonization initiatives
to achieve carbon neutrality by 2060 and meet its Global Methane Pledge
commitments.
THE COUNTRY PARTNERSHIP FRAMEWORK FOR 2020–2025
The Kazakhstan Country Partnership
Framework (CPF) aims to accelerate the transformation of Kazakhstan
into a modern society with a knowledge-based, diversified, and private-sector
driven economy. CPF Focus Areas are:
Underlying these
focus areas is the cross-cutting theme of more effective public sector and
institutional development.
Currently a new
CPF is being developed in consultation with counterparts and civil society to
shape a new investment program and quality technical assistance to the
Government for 2026–2030.
KEY ADVISORY ENGAGEMENT
Since 2003, the
World Bank has significantly extended its Advisory Services and Analytics (ASA)
provided under the Joint Economic Reform Program (JERP). The JERP is structured
around the strategic priorities of the Government focusing on development gaps
in growth, governance, and the public service delivery agenda. The program is financed
by the Government and designed to ensure strong government ownership while
enhancing the Bank’s contribution to the country’s development in a way that
goes beyond funding. The areas of focus and scope of the economic research
program are determined by the Government in consultation with the World Bank.
Since 2003, more
than 100 tasks have been completed, including 20 high-level brainstorming
sessions that provided direct input to the Government’s ambitious reform
agenda. Key JERP-supported results in recent years include, among others,
technical assistance leading to the drafting of the new Investment Policy
Concept to 2025, along with the preparation of an Investment Policy Action
Plan; support for the development of the new Local Self-Governance Law;
assistance in drafting the Agglomeration Law, which was adopted in November
2022; and support in formulating a minimum wage methodology, adopted by the
Government in March 2024, etc.
The renewed and
recently signed JERP Framework Agreement for FY25-29 should enable us to
broaden our cooperation, with the CY 2025 JERP program expected to launch soon,
focusing on several priority areas for the Government, including, among others,
education, judicial reform, and catastrophic risk insurance. Key Bank-financed
ASA activities over the past several years have included the Kazakhstan Public
Finance Review, the Kazakhstan Mining Sector Diagnostic, the Equitable Human
Capital Development study, the Country Economic Memorandum, the Climate Change
and Development Report, the Financial System Stability Assessment Program, the
Kazakhstan Poverty Assessment, and others.
In the financial
sector, Kazakhstan, with IFC’s support, became the first country in Central
Asia to introduce mandatory ESG Disclosure and Environmental and Social Risk
Management Guidelines, creating a more transparent and sustainable investment
climate. Simultaneously, efforts are focused on transforming microfinance
organizations into banks to enhance financial inclusion and resilience.
The WBG, with
support from the Government of Japan, is delivering CP3P certification training
to equip government and quasi-government representatives with practical skills
for developing and managing PPP projects, enabling the successful
implementation of complex infrastructure initiatives.
The WBG assessed
the Distressed Asset Market in Kazakhstan and provided recommendations to
decrease non-performing loans using market-based instruments.
CURRENT PORTFOLIO
As of December
2024, the IBRD program in Kazakhstan includes lending for 8 active projects with a total commitment of US$4.7 billion including development policy financing and
investments in digital development, innovation, agriculture, transport and
water sectors.
As of December
2024, the IFC's total investment portfolio in Kazakhstan stands at US$254.5 million. This portfolio is allocated across
various sectors: infrastructure projects, including the Almaty Airport,
financial institutions, microcredit organizations, and the manufacturing and
services sectors.