BAKU, Azerbaijan, July 31. The World Bank Group (WBG) intends to continue supporting the ambitious reform agenda in Kazakhstan, Andrei Mikhnev, World Bank Country Manager for Kazakhstan and Turkmenistan, said in an exclusive interview with Trend.
"The World Bank Group’s contributions are not just about financing; we are, importantly, a "knowledge bank". We have and will continue to leverage our deep global experience and long presence in Kazakhstan to provide policy-relevant analysis and ideas and engage in dialogue to support a successful and ambitious reform agenda in Kazakhstan. For example, our Country Climate and Development Report, issued in 2022, supported the government’s preparation of the Low Emissions Development Strategy in Kazakhstan, while our Country Economic Memorandum: Dependence, Distance, and Dispersion mapped out a chart for feasible economic development. Joint Economic Research Program analysis has supported the drafting of a new Investment Policy Concept, the Concept of Local Self-Governance, a new Law on the Development of Agglomerations, and a new methodology for setting the minimum wage, to name just a few," he said.
Speaking in general about the bank’s activities in Kazakhstan, Andrei Mikhnev noted that the World Bank Group's partnership in Kazakhstan spans more than 30 years and is guided by the Kazakhstan Country Partnership Framework (CPF) 2020–2025.
"The WBG includes the International Bank for Reconstruction and Development (IBRD), the International Finance Corporation (IFC), and the Multilateral Investments Guarantee Agency (MIGA). Our support and interventions are informed by the government’s priorities and our analytical work, including through our Joint Economic Research Program (JERP), which informs the government’s economic and social development reform agenda and has been in place for over 20 years," he said.
He pointed out that since engaging in Kazakhstan, IBRD has supported more than 50 projects with over $8 billion.
"Today, we have eight active projects focused on areas such as connectivity, water systems, innovation and technology, landscape management and restoration, and education modernization. These projects are already showing tangible results. Some highlights include the 1,900 km of road constructed along an International Transit Corridor from Western Europe to Western China to facilitate trade and logistics, which has also strengthened local connectivity and, most importantly, improved the lives of local residents. Agricultural investments have resulted in the improvement of 76,000 hectares of irrigation and drainage services and the development of 700 kilometers of lined canals. Our new project, the Digital Acceleration for an Inclusive Economy Project (DARE), aims to support equitable access to high-quality, affordable broadband infrastructure in remote areas and help to accelerate economic diversification and improved access to services," Andrei Mikhnev said.
The country manager noted that IBRD and the IFC have supported around 250,000 small and medium enterprises to deploy innovative technology.
"Other projects included institutional support for tax administration and the justice sector. IFC’s focus on private sector solutions to address development challenges has seen a portfolio of over $257 million. Examples of partnerships include helping the government structure a public-private partnership to develop the Almaty Ring Road (BAKAD) and the construction of a new terminal at Almaty Airport. Meanwhile, MIGA’s focus on providing guarantees has been instrumental in facilitating private investment in rail. In 2023, MIGA issued a guarantee of more than $500 million to the National Railway Company Kazakhstan Temir Zholy JSC (KTZ) to help access long-term international commercial financing at favorable terms, which is expected to increase the reliability of railway services and track networks and improve safety," he concluded.
