World Bank ready to invest up to $1 bln annually in Kazakhstan in 2026-2031 - ministry

ASTANA. Feb 13 (Interfax) - The World Bank is prepared to provide up to $1 billion annually to finance projects in Kazakhstan over six years under a new Country Partnership Framework for 2026-2031, the National Economy Ministry's press service said.

Deputy Prime Minister and National Economy Minister Serik Zhumangarin met with representatives of the World Bank Group to discuss the bank's new strategy.

The planned financing will create additional conditions for private sector development, infrastructure modernization and improved economic competitiveness.

"We highly value our partnership with the World Bank. The proposed strategy provides a framework to support our reforms through expertise, financing and joint initiatives," Zhumangarin was quoted as saying.

The draft strategy identifies priority areas including transport and digital connectivity, climate initiatives, improved services in the water and energy sectors, financial market development, promotion of private investment and expanded use of renewable energy sources.

Analytical support for reforms will also continue under the Joint Economic Research Program implemented by Kazakhstan's government and the World Bank, the ministry said.