World Bank continues successful cooperation with Kazakhstan
The goal of the Strategy is to aid the Government of Kazakhstan boost implementation of country development agenda through a highly effective program, focusing on key priorities of competitiveness and creating jobs, improved governance through higher standards and accountability in public administration and service delivery, and protecting the environment. In addition, the International Finance Corporation (IFC) will assist in development of private sector through the investments and consultations in support of economy's diversification. In its turn, the Multilateral Investment Guarantee Agency (MIGA) will continue to support financial and industrial sectors.
"Over the past decade, Kazakhstan has achieved impressive success and built a system of strong macroeconomic management, strengthened public financial management and steered resources towards social services and key infrastructure development to improve the lives of the nation," said Sebnem Akkaya, the World Bank Country Manager for Kazakhstan.
According to Ms Akkaya, the new Strategy is aimed at continued cooperation with Kazakhstan, broadening and intensification of the existing achievements in order to help the country attain sustainable economic growth through diversification, strengthening human capital, building world-class institutions, infrastructure and ecological standards. This partnership goes beyond the borders of 'simple financing' and is built on cutting-edge knowledge transfer, capacity enhancement and technical support.
The Country Partnership Strategy was prepared in close cooperation with the Government of Kazakhstan nongovernmental organizations to define development priorities and ensure broad-based participation in the strategy's implementation concentrating on the key areas of interaction. These are: developing competitiveness and enhancing job creation with an emphasis on strengthening financial discipline and trade openness; expanding non-oil sector exports and employment; stimulating financial sector; strengthening knowledge for sustainable growth; building transport infrastructure and reducing costs.
The Strategy acknowledges the role Kazakhstan can play as a source of experience and assistance in Central Asia and in a broader regional context. The World Bank will continue to promote regional cooperation in energy, water, transport and trade sectors as well as in infectious diseases control.
Kazakhstan joined the World Bank Group in 1992. Since then the World Bank provided Kazakhstan with 39 loans worth USD 5.6 billion.
