EBRD approves new strategy for Kazakhstan

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The Board of Directors of the European Bank for Reconstruction and Development (EBRD) has approved a new strategy for Kazakhstan, setting out the Bank’s priorities in the country for the next five years.

The new five year country strategy set by the EBRD for Kazakhstan marks thirty years of the bank’s involvement with the country and is structured around three pillars. 

The first pillar focuses on fostering private sector competitiveness, connectivity and strengthening economic governance. 

To do this, the EBRD will support digitalisation programmes and investments in smart technologies across municipal, transport and energy sectors. It will also finance key infrastructure, including roads and railways and help develop alternative transport routes under the EU Global Gateway initiative. 

Work will be undertaken to improve the regulatory framework for public-private partnerships (PPPs). 

Pillar two of the plan will support the country’s path to carbon neutrality.

The EBRD will continue to finance renewable energy projects and help integrate renewables into the national power network and support the development of a decarbonised and climate-resilient energy system.

Additional attention will be paid to the development of carbon markets, cleaner energy generation and the reduction of air pollution.

Pillar three will be to promote economic inclusion and greater gender equality.

The EBRD will promote support joint public and private sector reviews of skills, including digital and green skills, to better reflect labour market needs and it will work with Kazakhstan’s financial regulator to promote inclusive lending practices by financial institutions.