World Bank supports over 50 projects worth $8bln in Kazakhstan

They discussed Kazakhstan’s economic outlook, reform agenda, infrastructure development, and future cooperation.

During the meeting, Zhumangarin described Kazakhstan’s partnership with the World Bank Group as strategic, noting that over the past 33 years more than 50 projects worth over 8 billion US dollars have been implemented with the Bank’s support. These initiatives have covered transport, education, environmental protection, green technologies, and digitalization.

Adugna highlighted Kazakhstan’s positive economic performance, particularly in terms of growth and investment activity.

The discussions focused on infrastructure development and financing mechanisms. World Bank representatives emphasized that infrastructure investments should be accompanied by institutional and regulatory reforms to maximize efficiency, boost productivity, and foster innovation.

Serik Zhumangarin stressed that Kazakhstan views infrastructure development not only through the lens of domestic needs but also as part of broader regional connectivity efforts.

“Kazakhstan’s infrastructure is only the first step toward creating a large, integrated infrastructure network across Central Asia. This is not just about improving our roads and railways. We need to ensure that these transport links generate economic benefits for both Kazakhstan and neighboring countries,” he said.

The World Bank reaffirmed its readiness to continue working with Kazakhstan on infrastructure financing mechanisms, drawing on international best practices.

Earlier, Kazakh Prime Minister Olzhas Bektenov held bilateral meetings with Vice President of the Europe and Central Asia Region at the World Bank Antonella Bassani, Chevron Upstream President Clay Neff, and Shell Exploration & Production President Peter Costello, who participated in the 38th plenary session of the Foreign Investors’ Council under the President of Kazakhstan.