Kazakhstan and ADB
In the Spotlight
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.
Kazakhstan needs to intensify its push for economic diversification and innovation if it is to achieve its goal of being among the top 30 most developed countries by 2050, says ADB's Innovative Asia report.
The Key Indicators for Asia and the Pacific 2014 presents the latest available economic, financial, social, and environmental statistics for the 48 regional members of ADB. Download the statistical tables for Kazakhstan.
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.