The Mazhilis (lower house) of Kazakhstan's Parliament has ratified a framework agreement with the World Bank Group, granting the country access to concessional financing for strategic infrastructure projects. The document will enable Kazakhstan to attract loans backed by state guarantees under World Bank rules, which entails implementing international procurement standards and enhanced transparency, Akchabar.kg reports.
As explained by Deputy Prime Minister Serik Zhumangarin, the new agreement establishes a legal basis for financing major regional transport and energy hubs. Key projects set to receive support include:
|
Project |
Funding Amount |
|---|---|
|
Zhezkazgan–Karaganda highway |
1.2 trillion tenge |
|
Beineu–Saksauly road |
$750 million |
|
Stake in Kambar-Ata HPP-1 (Kyrgyzstan) |
~$500 million |
Kazakhstan plans to borrow approximately $500 million from World Bank institutions to participate in the construction of the 1,860 MW Kambar-Ata Hydroelectric Power Plant. Project shares are distributed among Kyrgyzstan (34%), Kazakhstan (33%), and Uzbekistan (33%).
For Astana, this is strategically significant: the plant will help reduce dependence on electricity imports from Russia, which cost the republic 8.5 cents per kWh in 2025.
Despite supporting the document, the Mazhilis Committee on Finance and Budget has set several conditions for the government. Deputies recommended:
- Using loans exclusively for projects with "measurable economic impact";
- Ensuring strict monitoring of fund allocation;
- Guaranteeing procurement compliance with World Bank standards.
According to the Ministry of National Economy, the new borrowings will not increase the national debt burden. Accessing World Bank funds with maturities of up to 35 years is viewed as a tool to ease pressure on the republican budget: capital expenditures are shifted to long-term, low-cost external financing with concessional rates.
The agreement will enter into force upon completion of required domestic procedures. The Ministry of Finance and relevant agencies will begin preparing specific financing projects in coordination with World Bank representatives.
CentralasianLIGHT.org
March 3, 2026