Government • 18 June, 2018

Kazakh PM meets with vice presidents of World Bank and International Finance Corporation

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June 18 in Ukimet Uyi the Prime Minister Bakytzhan Sagintayev met with the Vice Presidents of the World Bank and the International Finance Corporation Cyril Muller and Georgina Baker, reports primeminister.kz.

At the meeting, the main directions for the further improvement of the investment climate in Kazakhstan were discussed. In particular, the issues of developing a partnership strategy for the next five years, expanding the export potential of Kazakhstan, improving the business climate and state institutions, as well as significant strengthening of human capital were considered.

For the time of cooperation, the World Bank has provided loans to Kazakhstan to finance 46 projects totaling more than $8.1 billion. To date, the World Bank portfolio includes 22 projects, including 7 ongoing projects and 15 projects under partnership agreements totaling $4.1 billion. The portfolio of current projects includes 7 projects worth $3.2 billion.

In its turn, the strategy of the International Finance Corporation in Kazakhstan is aimed at improving access to infrastructure, strengthening the financial sector and supporting the diversification and competitiveness of the economy. Since 1997, the corporation has invested more than $1.4 billion in the economy of Kazakhstan, including $300 million in syndicated loans, to support the implementation of 60 private sector projects in the financial, gas, mining, agricultural and industrial sectors.

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