Head of State greenlights Partnership Agreement between Kazakhstan and IBRD

The Head of State signed the Law "On the ratification of the Framework Partnership Agreement between the Government of Kazakhstan and the International Bank for Reconstruction and Development (IBRD), the International Finance Corporation (IFC), and the Multilateral Investment Guarantee Agency (MIGA) to expand cooperation to support Kazakhstan's sustainable development and economic growth."

The text of the Law is to be published in the press.

It is noted that the Agreement is intended to support the implementation of major systemic reforms outlined in the "Kazakhstan-2050 Strategy — New Political Course Toward an Established State," aiming to foster high-quality, sustainable economic growth that will raise the standards of living in Kazakhstan to levels comparable with those of the Organisation for Economic Co-operation and Development (OECD) member states.

World Bank Group support focuses on areas where the organization has a comparative advantage in knowledge, capacity, and historical engagement, including promoting inclusive growth, strengthening human capital, and ensuring sustainable, low-carbon development.

Under the Agreement, both parties will collaborate to evaluate the execution of projects and programs within the framework of this cooperation. Efforts will also be made to address systemic factors hindering progress, as identified in the World Bank Group’s reports.

Additionally, the parties will take specific steps to remove procedural hurdles during the early stages of a project. These measures aim to prevent delays in launching investment projects and results-oriented programs.

Earlier, the Kazakh President ratified amendments to the Convention on International Civil Aviation.