A major boost for regional economic expertise is coming to Almaty, Kazakhstan, as the International Monetary Fund (IMF) prepares to establish a new Regional Capacity Development Center covering the Caucasus, Central Asia, and Mongolia.

The decision was confirmed after Kazakhstan’s Senate ratified a memorandum between the government of Kazakhstan and the IMF, officially paving the way for the center’s full-scale operation, The Caspian Post reports via Kazakh media.

The new facility - known as the Caucasus, Central Asia, and Mongolia Regional Capacity Development Center (CCAMTAC) - will serve a wide group of countries, including:

Armenia

Azerbaijan

Georgia

Kyrgyzstan

Mongolia

Tajikistan

Turkmenistan

Uzbekistan

Kazakhstan

Its core mission is to strengthen government capacity in:

Macroeconomic analysis

Budget and monetary policy

Financial regulation

Official statistics

Senator Nuriya Niyazova said that the center will help improve budget planning, financial management, and the adoption of digital solutions in public administration.

She also emphasized that close cooperation with IMF headquarters will ensure faster implementation of international standards and higher-quality technical assistance.

The establishment of the center reinforces Kazakhstan’s position as a regional hub for financial knowledge and expertise, enhancing its influence in economic policy development across Central Asia and beyond.

The memorandum also grants the center and its staff privileges and immunities in line with IMF regulations.

Although formal ratification has just been completed, the center has already begun operations, organizing:

Over 615 training events

More than 4,670 trained specialists across the region

Including 1,370 professionals from Kazakhstan

With its expansion in Almaty, the IMF aims to further strengthen economic governance and policy capacity across a rapidly developing region.