The Kazakh parliament has ratified a Framework Partnership Agreement with the World Bank Group, including the International Bank for Reconstruction and Development (IBRD), the International Finance Corporation (IFC), and the Multilateral Investment Guarantee Agency (MIGA), paving the way for expanded cooperation and financing of key infrastructure projects.

Deputy Prime Minister and National Economy Minister Serik Zhumangarin noted that the agreement, originally signed in Astana on June 18, 2025, establishes World Bank policies for state-guaranteed loans and grant-funded projects, including procurement rules, anti-corruption standards, environmental and social safeguards, labor and gender policies, and disclosure requirements, The Caspian Post reports via Kazakh media.

Over 30 years, the World Bank has implemented more than 50 projects in Kazakhstan, totaling over $8 billion in transport, education, environmental protection, digitalization, and finance. Zhumangarin emphasized that state-guaranteed loans are often concessional long-term financing-up to 35 years-without increasing public debt.

Under the new framework, funding will kick off for major infrastructure projects, including:

Reconstruction and construction of the Zhezkazgan-Karaganda Highway and Beineu-Saksaulsk Highway

Railway communication and transport connectivity transformation projects

Construction of Kambarata HPP-1 and other strategic facilities

Long-term benefits are expected to include GDP growth, job creation, private sector and SME development, innovation stimulation, and an improved investment climate.

Kazakhstan previously ratified a similar agreement with the Asian Development Bank in 2020. World Bank Country Manager for Kazakhstan and Turkmenistan Andrei Mikhnev, the upcoming Country Partnership Framework for 2026-2031 will focus on scaling financial support and leveraging key drivers for economic growth across Kazakhstan and Central Asia.