Kazakhstan Identifies Prospects for Cooperation with World Bank, IMF

ASTANA – Kazakhstan’s Ministry of National Economy identified the priorities of partnerships with the World Bank (WB) and the International Monetary Fund (IMF) on potential future projects during the recent meetings in Washington, D.C., reported the ministry’s press service on July 22.

Bo Li and Alibek Kuantyrov

Alibek Kuantyrov, Kazakh Minister of National Economy, discussed with Anna Bjerde, WB’s Managing Director for Operations, the Kazakh government’s plans to advance alternative trade routes and expand cooperation to develop the infrastructure of Kazakhstan and the Central Asian region at a July 19 meeting.

Bjerde expressed the bank’s interest in developing the Trans-Caspian International Transport Route (TITR), creating an environmentally friendly infrastructure and providing the necessary funding and consulting services.

Anna Bjerde and Alibek Kuantyrov

On July 22, Kuantyrov met with the WB leading experts in the areas of taxation, human capital development, infrastructure, equitable economic growth and green economy to discuss joint projects.

According to Carolina Sánchez-Páramo, WB Director of Strategy and Operations for the Europe and Central Asia Region, the Kazakh government and the WB should strengthen joint efforts to achieve economic growth and sustainable development in the country and the region by implementing reforms and the TITR project.

On the same day, Kuantyrov met with IMF Deputy Managing Director, Bo Li, to address the implementation of fiscal policy and structural reforms, economic diversification, and green investments to achieve carbon neutrality.

Li commended the Kazakh government’s efforts to ensure domestic economic stability amid global challenges.

He also expressed gratitude to Kazakhstan for hosting the IMF Regional Capacity Development Center in Almaty, which was opened in June.

In turn, Kuantyrov invited Li to take part in the Congress of Financiers on Nov. 15 in Almaty, which will mark the 30th anniversary of the introduction of Kazakhstan’s national currency – the tenge.

On July 17, Kuantyrov took part in the high-level side event held within the High-Level Political Forum on Sustainable Development at the UN headquarters in New York. 

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