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Kazakh government, World Bank explore investment policy to achieve carbon neutrality

16 November, 2021 16:05

Prime Minister of Kazakhstan Askar Mamin met with Anna Bjerde, World Bank Vice President for Europe and Central Asia, who was on her official visit to Kazakhstan that concluded on November 13, reports Strategy2050.kz.

The sides discussed the ways to attract investment to modernize the economy as the country strives towards carbon neutrality by 2060.

"Over three decades of cooperation, Kazakhstan and the World Bank have implemented more than 55 projects worth over $8 billion in such areas as finance, infrastructure, utilities, energy, small and medium-sized businesses, agribusiness, and the IT sector. Currently, 13 projects worth $3.6 billion are being implemented,” said Mamin. 

He noted the importance of expanding cooperation with the World Bank to transition to a green economy and ensure sustainable growth in Kazakhstan.  

The sides considered the models and factors influencing the attraction of green investments and the formation of new sources of growth in energy, agriculture, manufacturing, ICT, engineering services, transport. They also discussed the international experience of the public and private sectors in the development of infrastructure and low-emission technologies. 

Besides her meeting with Mamin, Anna Bjerde met with Deputy Prime-Minister Roman Sklyar, Minister of National Economy Aset Irgaliyev, and Deputy Chair of the Senate Askar Shakirov to discuss the World Bank’s ongoing support for reforms, including regional and metropolitan development, and investment policy, as well as the bank’s future support in the areas of digital-enabled social services, human capital, and private sector development.

“As Kazakhstan embarks on a new chapter in its economic development, guided by the reforms recently announced by President Tokayev, the World Bank stands ready to expand our partnership and help the country become a globally competitive market economy driven by a vibrant private sector – operating in a more competitive environment – and an accountable and transparent public sector,” said Anna Bjerde. “We will continue to put an emphasis on Kazakhstan’s most important asset – its people – especially in the decarbonization process where new technology, jobs and innovation present new opportunities.”

Overall, green, resilient, and inclusive growth was central to discussions with government counterparts, as the country strives to transition to a green economy by 2050 and achieve carbon neutrality by 2060.

In 2022, the World Bank and Kazakhstan will mark 30 years of partnership.