World Bank to support Kazakhstan’s push for massive infrastructure project
After negotiations with Deputy Prime Minister of Kazakhstan Kanat Bozumbayev, representatives of the World Bank announced their readiness to support the implementation of a national project to upgrade the country’s energy and utility sectors, as reported by Primeminister.kz. The national project was adopted in late 2024 and includes 15.1 trillion tenge (approximately $29.7 billion at the current exchange rate) in investments planned between 2025 and 2029.
«Kanat Bozumbayev discussed the implementation of the national project to modernize the energy and utility sectors with the World Bank’s board… During the talks, representatives of the World Bank expressed their readiness to support the implementation of the national project. The potential budget was reviewed, and a decision was made to complete a list of water supply and wastewater disposal facilities to be constructed,» the statement read.
Bozumbayev held talks with Tatiana Proskuryakova, the World Bank’s regional director for Central Asia. Other epresentatives included Sameh Wahba, the regional director for sustainable development in Europe and Central Asia; Andrei Mikhnev, country manager for Kazakhstan and Turkmenistan; and several energy and water management experts.
The parties also examined the preparation of a new partnership strategy between the Kazakhstani government and the World Bank for the period from 2026 to 2030, and the implementation of joint initiatives, including the preservation of the North Aral Sea and the creation of a natural disaster recovery fund.
Kazakhstan’s government plans to allocate approximately $30 billion for the construction of new power plants and the modernization of heating, electricity, water supply and wastewater networks between 2025 and 2029. Notably, 10% of the funding will come directly from the state budget, with additional resources expected from the National Fund and the Unified Accumulative Pension Fund. Baiterek Holding has been designated as the financial operator for the project.
