ADB-Kazakhstan Partnership Strategy
Kazakhstan surged to upper middle-income status in 2006 and has since become a major economic power in Central Asia. However, the decline in hydrocarbon prices in 2014 revealed economic vulnerabilities stemming from the country’s high dependence on commodity export revenues, as well as institutional and governance constraints.
In response to the 2014 decline in oil and other commodity prices, government authorities adopted several measures to buttress the economy against future external shocks, including moving to a floating exchange rate; introducing countercyclical programs; and implementing structural reforms to improve governance, accountability, and civil service efficiency.
The aim of this country partnership strategy (CPS), 2017-2021 is for ADB to assist Kazakhstan in achieving its medium-term development targets and fulfilling its global obligations under the Sustainable Development Goals’ (SDGs) agenda. ADB’s relatively limited engagement with the country so far does not reflect its potential in assisting with innovative development and financing solutions that address Kazakhstan’s enhanced needs as an upper-middle income country. Reflecting an increasingly flexible and engaging approach, ADB’s support will continue to be demand-driven, focused and selective, yet adaptive to changing circumstances. ADB designed the CPS to meet three main objectives.
First, to help lessen the dependency on commodity exports, it will support economic diversification by promoting private sector development and improving access to finance. Second, to help reduce inequalities, ADB will help Kazakhstan realize quality infrastructure and improve the quality of public and social services. Third, to lessen vulnerabilities associated with climate change, ADB will support achieving sustainable growth in line with the country’s greenhouse gas mitigation targets and commitments to improve resilience to climate change. The activities ADB will undertake to implement the CPS will also help in:
(i) improving governance and institutions,
(ii) promoting regional cooperation and integration,
(iii) enhancing macroeconomic resilience,
(iv) supporting project finance and public-private partnerships, and (v) fostering gender mainstreaming.
ADB’s operations will add value to the economy by creating jobs and providing broad knowledge-based support. Private sector investment and development, knowledge transfer, innovation support, and capacity building will drive the diversification agenda, complement public sector investment projects, and help develop inclusive and climate-proofed infrastructure. ADB will help strengthen development partners’ coordination and deliver regional public goods that generate positive externalities to neighboring countries through knowledge assistance in support of operations. The Central Asia Regional Economic Cooperation (CAREC) Program and other regional cooperation and integration initiatives will enhance the benefits of domestic projects that leverage on ADB’s international perspective and experience.
The Access to Information Policy recognizes that transparency and accountability are essential to development effectiveness. It establishes the disclosure requirements for documents and information ADB produces or requires to be produced.
The Accountability Mechanism provides a forum where people adversely affected by ADB-assisted projects can voice and seek solutions to their problems and report alleged noncompliance of ADB's operational policies and procedures.
In preparing any country program or strategy, financing any project, or by making any designation of, or reference to, a particular territory or geographic area in this document, the Asian Development Bank does not intend to make any judgments as to the legal or other status of any territory or area.