Over the next six years, the World Bank will focus its support for Kazakhstan on efforts to improve governance, create jobs and promote sustainability in the Central Asian country.
These three priorities are at the heart of the new country partnership strategy adopted May 1 by the World Bank executive board. In addition, the strategy urges the International Finance Corp. to help diversify the country’s economy and invest in its private sector.
The World Bank will implement the 2012-2017 strategy through knowledge and research activities as well as projects in high-impact areas. These activities and projects are likely to include the construction of additional transport infrastructure, improvement of the country’s electricity grid, reform of the social protection system, and promotion of energy efficiency.
For its part, IFC will continue supporting Kazakhstan’s financial sector reform initiative and will promote the development of small and midsize enterprises in the agriculture, services and manufacturing industries.
The new strategy, however, does not specify how much the World Bank plans to spend in Kazakhstan in those six years. The World Bank has so far committed $5.6 billion for Kazakhstan’s development since the country joined the bank in 1992.
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