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Kazakh PM, head of World Bank ink agreement on opening IBRD offices in Kazakhstan

Prime Minister of the Republic of Kazakhstan Karim Massimov and President of the World Bank have signed an agreement between the Government of the Republic of Kazakhstan and the International Bank for Reconstruction and Development on the establishment and functioning of the offices in the Republic of Kazakhstan.

Today, within the World Economic Forum in Davos (Switzerland) Prime Minister of Kazakhstan Karim Massimov held a meeting with and President of the World Bank Jim Yong Kim. During the sitting the parties have discussed the issues of further cooperation of Kazakhstan and the World Bank. Moreover, the sides signed a new agreement between the Government of the Republic of Kazakhstan and the World Bank on the establishment and operation of offices in Kazakhstan (Foundational Agreement).

The signing of the new Foundational agreement will strengthen further cooperation between Kazakhstan and the World Bank and provide an opportunity to fully implement the Framework Partnership Agreement signed in May 2014.

Kazakhstan joined the World Bank Group in 1992. The World Bank invested in 45 Kazakhstani projects $7.9 billion. Today the program of the World Bank in Kazakhstan is focused on institutional development in the areas of education, healthcare, innovation, as well as transport infrastructure and environmental protection.

KAZINFORM