| Kazakhstan joined the World Bank in July 1992. In the first few years after independence, the World Bank focused on helping the country to implement financial and private sector reforms. After 1997, the focus shifted to public administration reform, with specific attention given to improving the country's welfare and social protection policies. At present, the World Bank is assisting the country with reforming agriculture, protecting the environment, and upgrading infrastructure, with the aim of fostering sustainable economic growth and reducing poverty.
World Bank's Strategy
Country Partnership Strategy (CPS) Every two to three years, the World Bank designs a work plan to guide its operations in a country. Usually, the Bank's work plan is outlined in a document called a Country Assistance Strategy. However, given the recent positive changes in Kazakhstan’s economy, the World Bank has shifted its focus from 'assisting' Kazakhstan in its development efforts to forging a 'partnership' with the country for this purpose. In 2004 the World Bank and the Government of Kazakhstan signed a Country Partnership Strategy (CPS).
The main priorities envisaged in the CPS are to support the diversification of Kazakhstan's economy and to improve its competitiveness.
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Analytical and Advisory Services
Joint Economic Research Program
An essential part of the World Bank's contribution to development efforts in Kazakhstan is its research and analysis of the country's challenges. This not only informs the Bank's lending program in the country but also provides the basis for policy advice to the Government.
To this end, the World Bank and the Government of Kazakhstan are conducting a three-year joint economic research program, which began in December 2002. The program focuses on promoting economic growth in sectors other than oil, as well as on natural resource management, pension reform, health protection, and HIV/AIDS and TB control. The cost of the research program for the fiscal year 2007 is US$2 million, in which the government is expected to finance 60 percent. This year program will cover such themes like budget investment planning, e-government, tax and customs administration, WTO accession, public-private partnership, health and pension management.
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Loans and Grants
To date, the World Bank has provided the Government of Kazakhstan with 28 loans worth a total of more than US$ 2 billion. Investments have been made in the agriculture, environment, energy and the financial sectors. Adjustment lending, which provided budget and balance of payment support to the country in the early years of transition from a command to a market economy, accounts for more than fifty percent of the total portfolio.
The World Bank's current portfolio in Kazakhstan comprises nine active investment projects. Five investment projects are currently under preparation.
More on Lending to Kazakhstan Regional Activities
The World Bank is increasing its focus on regional issues in Central Asia so that countries can benefit from economic cooperation with each other in matters of trade, as well as by sharing resources such as water and energy. As a base for this increased focus, the Bank has placed its Director for the five Central Asian countries (Kazakhstan, Kyrgyzstan, Uzbekistan, Tajikistan, and Turkmenistan) in the Central Asia Regional Office (CARO) in Almaty. The World Bank has also initiated and expanded its regional cooperation agenda. In addition to trade, water and energy, this includes cooperation on micro-finance, human development, communicable diseases, and community driven development programs. More on recent and upcoming Events in Kazakhstan Last update July 14, 2006 |
