Kazakhstan and ADB
In the Spotlight
ADB has signed an agreement for a $30.5 million loan in tenge equivalent to M-KAT Green LLP—a special purpose vehicle created for the project—to build and operate a solar plant to ease power supply shortages and boost the share of renewable sources in the country’s energy mix.
ADB Vice-President Shixin Chen Meets Kazakhstan Prime Minister, Reaffirms Commitment to Country Partnership
ADB Vice-President Mr. Shixin Chen reaffirmed ADB’s commitment to further strengthen its partnership with Kazakhstan on his visit to the country from 14-18 May.
Kazakhstan’s economic growth is forecast to slowdown in 2019 and 2020, reflecting lower oil prices and reduced growth in the People’s Republic of China and the Russian Federation. Aside from oil revenues, public investment is expected to become a key source of economic growth in the coming years, says a new ADB report.
ADB expects to provide $3 billion in assistance to Kazakhstan in 2017-2021 to support the country’s ambition to be a top 30 global economy by 2050.
In the early 1990s, Kazakhstan was transitioning from a centrally planned economy to one driven by market forces. ADB began supporting the Government of Kazakhstan in 1994, a few years after the country became independent, by providing much-needed assistance in agriculture, education, finance, and the delivery of social services.
Since the early 2000s, Kazakhstan has pursued economic diversification to avoid being stuck in the “middle-income trap.” It seeks to transform from a landlocked to a “landlinked” economy. To address these development needs, ADB cooperation with Kazakhstan in recent years has focused on the finance and transport sectors and on knowledge partnerships.
Kazakhstan is a member of the Central Asia Regional Economic Cooperation (CAREC) Program.
Read the ADB and Kazakhstan fact sheet.
Projects in Kazakhstan
- Integrated Health Care Development
- Asian Development Outlook 2016-2018 - Asian Development Outlook 2017 (Subproject 2)
- Asian Development Outlook 2016-2018 - Asian Development Outlook 2016 (Subproject 1)
- Countercyclical Support
- Joint Government of Kazakhstan and the Asian Development Bank Knowledge and Experience Exchange Program, Phase 2