World Bank confirms reliable financing for Kazakhstan's energy infrastructure

During the talks, the sides discussed the current state and prospects of strategic cooperation in the energy sector.

Minister Akkenzhenov noted that the World Bank remains a key partner for Kazakhstan in modernizing its energy and utility infrastructure. The World Bank reaffirmed its commitment to actively engaging with Kazakhstan and financing infrastructure projects in the country's energy sector.

Particular attention was paid to the National Project "Modernization of the Energy and Utility Sectors." Cooperating with the World Bank, Kazakhstan has carried out comprehensive work to develop heat and power generation roadmaps for 12 utility enterprises. Based on analysis and site visits by international experts, the documents aim to attract investment and drive digitalization and automation in the sector. Financing parameters are being developed based on these documents.

A separate discussion focused on the World Bank's Regional Electricity Market Interconnectivity and Trade (REMIT) program in Central Asia. The initiative aims to gradually establish a regional electricity market and move toward closer integration of countries in the region. In the first phase, a pilot day-ahead regional electricity market is planned, which will allow Central Asian countries to trade balancing volumes of electricity without major changes to their existing power systems.

Concluding the meeting, the sides reaffirmed their mutual interest in deeper cooperation and joint initiatives aimed at the sustainable development of Kazakhstan's energy sector.

As Qazinform reported earlier, the World Bank Regional Manager stated that Kazakhstan is emerging as an ‘environmental diplomat’ in Central Asia.