DAVOS, January 21, 2016 – The World Bank Group President, Jim Yong Kim, and the Prime Minister of the Republic of Kazakhstan, Karim Massimov, met on the sidelines of the World Economic Forum 2016 to discuss the ongoing cooperation and to sign new Establishment Agreement between the Government of Kazakhstan and the World Bank (International Bank for Reconstruction and Development).
The signing of the new Establishment Agreement will greatly facilitate the work of the World Bank in Kazakhstan as well as administration of its Astana and Almaty offices to fully implement the Partnership Framework Arrangement signed between the World Bank Group and the Government of Kazakhstan in May 2014 to support joint efforts in sustainable development and inclusive growth.
Kazakhstan joined the World Bank Group in 1992. Since then, the World Bank has become a major development partner with total commitments of US$7.9 billion for 45 projects. Today, the World Bank program in Kazakhstan is concentrated on institutional development in the areas of education, health, innovations, revenue administration as well as transport infrastructure and environment.
