Kazakhstan and World Bank expand economic cooperation

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

During the discussion, it was highlighted that Kazakhstan highly values the established strategic partnership, based on trust, professionalism, and mutual commitment to sustainable development. Between 1993 and 2026, more than 50 projects totaling over $8 billion have been implemented in areas such as transport, education, environment, green technologies, and digitalization.

The World Bank continues to play a vital role in promoting economic reforms and infrastructure development, as well as ensuring the country's macroeconomic and fiscal stability.

Serik Zhumangarin emphasized that one of Kazakhstan's key recent reforms has been fiscal and tax reform. Its effectiveness is already evident in the results of the first quarter of 2026: state budget revenues (excluding transfers) reached 6.4 trillion tenge, increasing by 931 billion tenge year-on-year.

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

Within the current portfolio, two major infrastructure projects are underway:

• Reconstruction of the Karaganda–Zhezkazgan highway: 1,18 trillion tenge (implementation period 2025–2028)
• Digital Acceleration for an Inclusive Economy (DARE) Project for Kazakhstan: approximately $84 million

Furthermore, eight more projects in transport, energy, water resources, and digitalization are under development. Prospective initiatives include the restoration of the Northern Aral Sea, the construction of the Beineu–Saksaulsk highway, and the transformation of railway links and transport connectivity across Kazakhstan, to name a few.

Special attention was paid to the national project of Modernization of the Energy and Utility Sectors, which involves upgrading over 200 natural monopoly entities. The project is viewed as a cornerstone for ensuring sustainable economic growth for Kazakhstan.

Kazakhstan is consistently pursuing 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, particularly in sustainable energy, water management, transport logistics, and the adoption of innovative solutions.

According to Antonella Bassani, the World Bank is ready to move forward with all the projects discussed under the new Partnership Framework. She noted that while Kazakhstan is landlocked, it has strong potential and steady growth. However, global changes demand adaptation and higher productivity. The Bank, she said, is prepared to support the country not only through infrastructure investment but also through the implementation of reforms.

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

The parties confirmed their readiness to further expand cooperation, including discussions on an infrastructure investment program planned for May of this year.

As Qazinform previously reported, the Senate of the Kazakh Parliament has ratified the Framework Agreement on Partnership with the World Bank Group.