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«The World Bank»

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.

GLOBAL KNOWLEDGE SHARING

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:

  • promoting inclusive growth
  • strengthening human capital
  • securing sustainable growth.

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.