ALMATY – Kazakhstan plans to attract financing from the World Bank for several large infrastructure and development projects after the Mazhilis (Parliament’s lower chamber) ratified the framework partnership agreement between the Kazakh government and three organizations within the World Bank Group, the International Bank for Reconstruction and Development, the International Finance Corporation and the Multilateral Investment Guarantee Agency, on March 4.
The Mazhilis (Parliament’s lower chamber) ratified the framework partnership agreement between the Kazakh government and three organizations within the World Bank Group on March 4. Photo credit: Parliament’s lower chamber’s press service.
According to Deputy Prime Minister and Minister of National Economy Serik Zhumangarin, the agreement will allow Kazakhstan to apply World Bank procurement rules and international standards when implementing projects financed through government-guaranteed loans and grants. These include procurement procedures, anti-corruption requirements, environmental and social safeguards, labor and gender standards, and transparency regulations.
Officials say the agreement will expand financing instruments for development projects, streamline implementation procedures and reduce pressure on the state budget by redirecting government spending toward priority initiatives.
“After the agreement enters into force, work will begin on financing a number of infrastructure projects,” Zhumangarin said.
Among the key initiatives expected to receive financing are the reconstruction and construction of the Zhezkazgan–Karagandy highway, estimated to require about 1.2 trillion tenge (US$2.4 billion), and the Beineu–Saksaulsk road project, valued at $750 million. Together, the projects are expected to create more than 13,000 new jobs, while reduced travel times could generate economic benefits exceeding 93 billion tenge (US$186 million).
In addition, the government plans to attract $84 million in loans to accelerate digitalization for Kazakhstan’s inclusive economy. Other planned projects include $75 million for an innovation development program, $100 million for the restoration of the North Aral Sea, $300 million to improve irrigation and drainage systems, $850 million for the transformation of railway connectivity and transport infrastructure, $350 million for the development of municipal and energy infrastructure, and $500 million for the construction of the Kambarata-1 Hydropower Plant.
According to Mazhilis deputy Erlan Stambekov, who led the parliamentary working group on the agreement, cooperation with the World Bank is expected to bring long-term benefits to Kazakhstan by creating jobs, stimulating innovation, supporting the growth of the private sector and small and medium-sized businesses, and introducing international best practices.
Earlier, World Bank Country Manager for Kazakhstan and Turkmenistan Andrei Mikhnev shared his views on a 2026-2031 partnership strategy with Kazakhstan in an interview with The Astana Times, emphasizing that the new framework aims to support Kazakhstan’s transition beyond a state-dominated, resource-driven growth model.
