Senate ratifies Kazakhstan- World Bank agreement on loans for infrastructure projects

The document aims at expanding cooperation between the Government of Kazakhstan, the World Bank, the International Finance Corporation and the Multilateral Investment Guarantee Agency.

The document is expected to reduce burden on the budget through the attraction of foreign financing and redistribution of expenses on socially important areas.

“The agreement creates conditions for attracting concessional financing over long terms under a state guarantee, including for entities in the quasi‑public sector, without increasing government debt. Borrowing under a state guarantee serves as an alternative source of funding for large projects. The approval process for such loans takes less time, which helps accelerate the implementation of these projects,” senator Sergey Karplyuk said.

According to him, the grant financing to be attracted will be directed toward infrastructure, the agricultural sector, SMEs, healthcare and education, as well as digital development, energy efficiency, and macroeconomic stability.

In addition, during project implementation, the World Bank’s Policies and Rules will be applied in the areas of procurement, anti‑corruption, environmental and social standards, and information disclosure requirements.

Earlier, Qazinform reported that the Majilis had ratified the Framework Partnership Agreement between Kazakhstan and the International Bank for Reconstruction and Development (IBRD), the International Finance Corporation (IFC), and the Multilateral Investment Guarantee Agency (MIGA) aimed at expanding cooperation.