Learn how the World Bank Group is helping countries with COVID-19 (coronavirus). Find Out

Skip to Main Navigation
PRESS RELEASE December 12, 2019

World Bank to Support Kazakhstan in Boosting Growth through Investments in People, Institutions, Natural Capital and the Private Sector

WASHINGTON, December 12, 2019 — The World Bank Group Board of Executive Directors discussed today the Country Partnership Framework (CPF) for Kazakhstan for 2020-25, which aims to support sustainable and inclusive growth, with a primary focus on strengthening institutions and human capital.

The new CPF is fully aligned with the government’s reform program, as well as Kazakhstan’s 2050 development strategy to accelerate the country’s transformation into a modern society with a knowledge-based, diversified, and private sector-driven economy. The CPF also supports the government’s goal to respond effectively to economic and social disparities among the population, with a focus on raising living standards, overcoming inequalities, and strengthening civil society.

Over the past decade, Kazakhstan has made steady progress in reducing poverty and growing its economy. Nevertheless, this progress remains fragile as it fluctuates in the face of economic downturns impacting the most vulnerable.

However, while the country has been quick to embrace modernization, Kazakhstan still needs to do more with regard to economic reforms and diversification. Even without the prospect of new economic shocks, Kazakhstan’s annual growth is expected to remain in the coming years at much lower than the 7 percent growth rate that drove the country toward high-income status.

“Going forward, the World Bank Group’s partnership with Kazakhstan will capitalize on the country’s momentum and political will for deeper reforms and renewed commitment to good governance, while supporting a rebalancing of the economy toward a new growth model,” says Jean-François Marteau, World Bank Country Manager for Kazakhstan. “This new growth model will depend largely on institutional reforms that deliver more efficient services for people, and support export-oriented sectors such as agribusiness and services that allow markets to perform better across the entire country.”

To help Kazakhstan address future challenges and capitalize on new opportunities, the Country Partnership Framework for 2020-25 aims to reinforce government institutions across all sectors, and specifically to:

  • Promote inclusive growth, by strengthening the environment for private sector development, promoting market-led transformation of the agriculture sector, and strengthening connectivity infrastructure;
  • Strengthen human capital, by closing the gap between regional and rural-urban disparities in delivery of education, health, and social protection services;
  • Secure sustainable, resilient, and low carbon growth, by managing natural capital including land and water resources, promoting less energy intensity and strengthening institutions and service delivery.

The International Bank for Reconstruction and Development (IBRD) will focus on addressing key institutional issues, natural capital, inclusion and catalyzing of financing and private sector activities. The International Finance Corporation (IFC) will focus on support to small and medium-sized enterprises and public-private partnerships (PPPs), in particular in agribusiness/livestock, finance and trade.

The new CPF was prepared in close collaboration with the Government of Kazakhstan, and reflects consultations with the private sector, civil society, academia, local experts, and development partners. Going forward, the World Bank Group will continue its engagement with a wide range of stakeholders, including local governments and civil society, to ensure strong development outcomes that benefit all the people of Kazakhstan.


PRESS RELEASE NO: 2020/ECA/46

Contacts

Nur-Sultan
Shynar Jetpissova
+7 (7172) 691- 449
sjetpissova@worldbank.org
Washington
Sona Panajyan
+1 (202) 473 -9751
spanajyan@worldbank.org
Api
Api