EBRD and Kazakhstan sign new five-year cooperation agreement

• EBRD and Kazakhstan sign new five-year cooperation agreement
• Joint activity to be streamlined until 2030
• Economic resilience, decarbonisation, digitalisation and private-sector support named among top priorities

The European Bank for Reconstruction and Development (EBRD) and the government of Kazakhstan are extending their long-term strategic partnership that will help to boost investment and drive forward reforms in the country.

The enhanced partnership framework arrangement (EPFA) between the EBRD and Central Asia’s largest economy was signed at the Bank’s 35th Annual Meeting and Business Forum in Riga by the Ministry of Finance of the Republic of Kazakhstan and the EBRD.

The EPFA builds on a previous agreement signed in 2021 and will help to streamline joint activity until 2030. It will also promote economic development in Kazakhstan and support the national programmes through investment instruments, grants, technical assistance and policy dialogue.

Within the EPFA, the EBRD and Kazakhstan will focus on:

• building economic resilience through private-sector development, including micro-, small and medium-sized enterprises, and attracting foreign direct investment
• advancing low-carbon development in line with the Paris Agreement and greening the economy through clean technologies and nature-based solutions
• investing in sustainable infrastructure, including electricity, water supply and wastewater treatment, and strengthening public-private partnership frameworks
• promoting digitalisation, artificial intelligence and cybersecurity across sectors and fostering innovation through venture capital and high-tech startups
• reinforcing Kazakhstan's role as a regional trade and logistics hub
• developing the financial sector, including sustainable and green bonds, improving local currency money markets and advancing the Astana International Finance Centre as a green finance hub
• supporting privatisation and private-sector participation reforms
• strengthening institutional capacity in government and business
• promoting gender, regional and youth inclusion.

The parties will also continue contributing to technical cooperation and advisory support. The government of Kazakhstan will commit grant funding in the amount of up to €6 million towards the implementation of reforms and strategic partnership objectives identified in the EPFA. This contribution will be matched by the EBRD.

The EBRD has invested almost US$ 12.8 billion (€11 billion) in Kazakhstan to date through 354 projects, making the country the largest and longest‑running recipient of EBRD investment in Central Asia.