Deputy Prime Minister – Minister of National Economy Serik Zhumangarin held a meeting in Washington with World Bank Vice President for Europe and Central Asia Antonella Bassani and representatives of the World Bank Group.

The meeting took place as part of preparations for the presentation of Kazakhstan’s investment opportunities, scheduled during the Kazakh delegation’s visit to the United States.

During the meeting, it was noted that Kazakhstan highly values the established strategic partnership based on trust, professionalism, and a shared commitment to sustainable development. Between 1993 and 2026, more than 50 projects worth over $8 billion have been implemented in cooperation with the World Bank in the areas of transport, education, ecology, green technologies, and digitalization.

The World Bank continues to play an important role in advancing economic reforms, infrastructure development, and ensuring the country’s macroeconomic and fiscal stability.

Serik Zhumangarin emphasized that one of Kazakhstan’s key recent reforms has been the budget and tax reform, the effectiveness of which is already confirmed by the results of the first quarter of this year: state budget revenues, excluding transfers, reached 6.4 trillion tenge, which is 931 billion tenge more than in the same period last year.

It was noted that the priority areas of cooperation defined in the new Country Partnership Framework for 2026–2030 fully align with Kazakhstan’s strategic goals. These include the development of transport and digital connectivity, modernization of the water and energy sectors, development of financial markets, attraction of private investment, strengthening the climate agenda, and expanding the use of renewable energy sources.

Within the current portfolio, two infrastructure projects are being implemented:

• Reconstruction of the Karaganda–Zhezkazgan road worth 1,182.5 billion tenge (implementation period 2025–2028);
• Project “Accelerated Digitalization for an Inclusive Economy of Kazakhstan” with financing of approximately $84 million.

In addition, eight more projects in the fields of transport, energy, water resources, and digitalization are at the preparation stage. Among the promising initiatives under consideration are projects for the restoration of the North Aral Sea, construction of the “Beyneu–Saksáulsk” road, transformation of railway transport and transport connectivity in Kazakhstan, and others.

Special attention was paid to the national project “Modernization of the Energy and Utilities Sector,” which provides for the upgrading of more than 200 natural monopoly entities. This project is viewed as one of the key drivers for ensuring sustainable economic growth of the country.

Kazakhstan is consistently implementing the agenda of economic diversification, digital transformation, and transition to “green” growth. In this regard, interest was expressed in further expanding cooperation with the World Bank, including in the areas of sustainable energy, water resources management, transport logistics, and the introduction of innovative solutions.

Antonella Bassani emphasized that the World Bank is ready to implement all the discussed projects included in the Country Partnership Framework.

“Despite being landlocked, Kazakhstan has significant potential and demonstrates steady growth rates. At the same time, global changes require adaptation and increased productivity. We are ready to support the country both through investments in infrastructure and through the implementation of reforms,” she noted.

The importance of the energy and water sector modernization program was highlighted as one of the most capital-intensive areas of cooperation. The World Bank intends to support not only state financing but also the attraction of private investment.

The parties confirmed their readiness to further expand cooperation, including discussions on the investment program in the infrastructure sector scheduled for May this year.

#Economy #Finance #Serik Zhumangarin

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