Kazakh Parliament Approves Framework Partnership with World Bank Group

The Mazhilis, the lower house of the Kazakh Parliament, has ratified a framework partnership agreement with the World Bank Group. The move is aimed at securing financing for major infrastructure projects across the country.

During a plenary session chaired by Speaker Yerlan Koshanov, deputies approved and forwarded the document to the Senate for further consideration. The agreement is between the Government of Kazakhstan and three institutions: the International Bank for Reconstruction and Development (IBRD), the International Finance Corporation (IFC), and the Multilateral Investment Guarantee Agency (MIGA).

According to Deputy Prime Minister – Minister of National Economy Serik Zhumangarin, the pact introduces norms that differ from national legislation for projects funded by state-guaranteed loans and grants. Specifically, it mandates using World Bank Group standards for procurement, anti-corruption measures, environmental and social safeguards, labor practices, gender equality, and information disclosure.

Officials state that the agreement will expand project financing tools, streamline implementation procedures, and reduce pressure on the state budget by reallocating expenditures to priority initiatives.

"Once the agreement enters into force, work will begin on financing a number of infrastructure projects," Zhumangarin said. He listed key ventures including the reconstruction of the Zhezkazgan-Karaganda and Beyneu-Saksaulsk highways, a project to transform railway communication and transport connectivity in Kazakhstan, and the construction of Kambarata HPP-1.

In a supplementary report, Mazhilis deputy Yerlan Stambekov highlighted long-term benefits from cooperation with the World Bank. He emphasized that joint project implementation is expected to create new jobs, stimulate innovation, develop the private sector and SMEs (small and medium-sized businesses), introduce best international practices, and improve Kazakhstan's overall investment climate.