Kazakhstan and World Bank Forge New Infrastructure Partnership in Washington Talks

Deputy Prime Minister and Minister of National Economy of Kazakhstan, Serik Zhumangarin, held high-level talks in Washington D.C. With World Bank Vice President for Europe and Central Asia, Antonella Bassani. The meeting focused on strengthening the strategic partnership between Kazakhstan and the international financial institution.

The discussions centered on investment opportunities for Kazakhstan and laid the groundwork for a new five-year cooperation framework. Since 1993, over 50 joint projects worth more than $8 billion have been implemented in sectors including transport, education, ecology, green technology, and digitalization.

Minister Zhumangarin highlighted recent fiscal reforms in Kazakhstan, noting their early success. In the first quarter of this year alone, state budget revenues—excluding transfers—reached 6.4 trillion tenge, an increase of 931 billion tenge compared to the same period last year.

The new Partnership Framework Strategy for 2026–2030 aligns with Kazakhstan's strategic goals. Key priorities include developing transport and digital connectivity, modernizing water and energy sectors, strengthening financial markets, attracting private investment, advancing climate action, and expanding renewable energy use.

Two major infrastructure projects are currently underway: the reconstruction of the Karaganda–Zhezkazgan highway with a budget of 1.1825 trillion tenge (2025–2028), and the "Accelerated Digitalization for an Inclusive Economy" project with approximately $84 million in funding.

An additional eight projects in transport, energy, water resources, and digitalization are under development. Prospective initiatives include restoration efforts for the Northern Aral Sea and construction of the "Beyneu–Saksaulsk" highway.

A flagship national project is the "Modernization of Energy and Utility Sectors," which aims to upgrade over 200 natural monopoly entities. This initiative is considered crucial for ensuring sustainable economic growth in Kazakhstan.

World Bank Vice President Antonella Bassani reaffirmed the institution's commitment. "Despite being landlocked, Kazakhstan possesses significant potential and demonstrates steady growth rates," she stated. "Global changes require adaptation and increased productivity. We are ready to support the country both through infrastructure investments and reform implementation."

The parties also emphasized the importance of modernizing energy and water sectors as a capital-intensive area of cooperation. The World Bank intends to support not only public financing but also private investment mobilization.

Both sides confirmed their readiness to expand collaboration further. A detailed discussion on an infrastructure investment program is scheduled for May this year.