Kazakhstan and ADB
In the Spotlight
As a connecting link between Europe and East Asia, Central Asia is set to reap the benefits of burgeoning trade between the two economic giants.
ADB has approved a $1 billion loan to help Kazakhstan continue government programs to strengthen the economy in the face of recent challenges.
ADB is providing a $122 million loan to improve financial access of businesses in Kazakhstan, particularly those outside big cities and women entrepreneurs.
An economic corridor linking the cities of Almaty and Bishkek has the potential promote trade and generate economic growth in Kazakhstan, the Kyrgyz Republic, and the whole of Central Asia.
ADB began supporting the Government of Kazakhstan shortly after the country became independent in 1991. To help the country’s transition from a centrally planned economy to one driven by market forces, ADB provided much-needed assistance in agriculture, education, finance, and the delivery of social services. Kazakhstan’s requirements for external financing had gradually diminished, before the global financial crisis of 2007-2008 prompted the need to again access external concessional resources. ADB responded with a countercyclical loan of $500 million.
At the 47th ADB Annual Meeting of the Board of Governors in the capital Astana in May 2014, the Government of Kazakhstan and ADB signed a groundbreaking cofinancing framework arrangement that sets a new paradigm for partnership on the country’s development agenda. Meanwhile, regional cooperation under the Central Asia Regional Economic Cooperation (CAREC) Program remains an integral aspect of ADB operations in Kazakhstan.
Projects in Kazakhstan
- CAREC Transport Corridor 1 (Zhambyl Oblast Section) Investment Program - Tranche 2
- CAREC Transport Corridor 1 (Zhambyl Oblast Section) Investment Program - Tranche 3
- Countercyclical Support
- Joint Government of Kazakhstan and the Asian Development Bank Knowledge and Experience Exchange Program, Phase 2
- Micro, Small and Medium-Sized Enterprise Development
- CAREC Transport Corridor 1 (Zhambyl Oblast Section) Investment Program - Tranche 4
- MFF: Small and Medium Enterprise Investment Program - Tranche 1
- CAREC Corridor 3 (Shymkent-Tashkent Road) Rehabilitation Project
- CAREC Transport Corridor 1 (Zhambyl Oblast Section) Investment Program - Tranche 1
- Astana Light Rail Transit Project