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Government of Kazakhstan and World Bank discuss investment policy issues to achieve carbon neutrality

Saturday, 13 November 2021, 15:24:58

Prime Minister Askar Mamin met with World Bank Vice President for Europe and Central Asia Anna Bjerde and took part in discussion session of the World Bank and the Government of the Republic of Kazakhstan on attracting investments to modernize basic spheres of the economy in order to achieve carbon neutrality goals.

“Over the three decades of Kazakhstan's cooperation with the World Bank, more than 55 projects have been implemented for a total of more than $8 billion in such areas as finance, infrastructure, housing and communal services, energy, small and medium-sized businesses, agribusiness and IT sector. Out of the current investment portfolio of the World Bank, 13 projects are currently being implemented in Kazakhstan for a total of $3.6 billion,” Mamin said.

The Head of Government emphasized the importance of further expanding cooperation with the World Bank to introduce a green economy model in Kazakhstan and ensure sustainable growth.

The World Bank Group is the world's largest multilateral provider of climate finance for developing countries. The participants of the meeting considered the models and factors influencing the attraction of green investments and the formation of new sources of growth in the fields of energy, agriculture, manufacturing, ICT, engineering services, transport, etc. International experience of the public and private sectors in the development of infrastructure and technologies with low emissions was discussed.

 

The discussion session was attended by members of the Government of the Republic of Kazakhstan, as well as leading experts in the field of stimulating green growth — WB Regional Director for Infrastructure Charles Cormier, Head of the OECD Eurasia Department William Thompson, Professor of the University of Rome Pasquale Lucio Scandizzo, President of the Legal Experts Committee of the Just Transition Plan under the Ministry of Environment and Energy of Greece Yannis Tzortzis, Head of the New Zealand Productivity Commission Andrew Sweet, Senior Adviser to the Finnish Finance Minister, Co-chair of the Special Climate Coalition of Finance Ministers Pekka Morén, representatives of the business community, etc.


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