ASTANA – The World Bank Group (WBG) proposed providing grant support for assessing the damage caused by extensive floods in Kazakhstan during a May 14 meeting between Deputy Prime Minister and Minister of National Economy Nurlan Baibazarov and representatives of the WBG and the International Finance Corporation (IFC), reported the Prime Minister’s press service.
Photo credit: primeminister.kz
WBG officials expressed their interest in financing projects for processing household waste, reconstructing infrastructure, developing agriculture, water and energy sectors, restoring the Aral Sea, and promoting science and education.
Baibazarov emphasized the need to focus on the development of public-private partnerships and attracting investments in infrastructure. He also stressed the importance of continuing the Joint Economic Research Program, which the WBG is currently implementing to provide advisory support to the Kazakh government.
WBG and IFC representatives expressed support for the government’s actions to develop a sustainable and inclusive economy and improve the environmental situation. They indicated their readiness to consider projects in these areas.
Kazakhstan was also invited to take an active part in the Central Asia Water and Energy Program, which aims to create conditions for enhancing water and energy security in the region amid a changing climate.
According to Baibazarov, Kazakhstan intends to streamline bureaucratic processes to facilitate more effective interaction. He proposed eliminating certain requirements, such as the need for counter-guarantees for quasi-state companies when obtaining international financing.
“The WBG has been one of the important strategic partners and the largest source of direct investment for our country for more than 30 years. We are committed to maintain the established traditions of partnership and develop new joint projects,” he concluded.
