In Kazakhstan we have the following priorities:
Balancing the roles of the public and private sectors. The Bank will continue to support the growth of private enterprises, which are still outweighed by the public sector. By investing in the private sector, including small and medium-sized enterprises (SMEs), in agribusiness and the non-extractive sectors, the EBRD hopes to improve the economy’s competitiveness. The Bank remains interested in the privatisation programme announced by the government. At the same time, the Bank will continue to support the reform of Kazakhstan’s public sector and the commercialisation of state-owned enterprises.
Broadening access to finance, strengthening the banking sector and developing local capital markets. Many firms continue to suffer from insufficient access to finance. The EBRD will work on improving the resilience of Kazakhstan’s financial sector, which will in turn help relieve pressures on businesses, especially SMEs and the non-extractive sector.
Inter-regional connectivity and international integration. Investing in Kazakhstan’s infrastructure remains an important focus of the EBRD. By supporting inter-regional and cross-border rail and road projects, the Bank seeks to enhance connectivity and boost the economic inclusion of remote regions of the country.
Green economy transition. The EBRD is the largest investor in sustainable energy in Kazakhstan, covering both renewable energy and energy-efficient technologies. It will continue to combine investment with policy engagement, in order to further help the country develop a supportive regulatory framework for sustainable energy, water and resource use. Decreasing Kazakhstan’s carbon footprint is crucial for the country’s sustainable development across all sectors, notably in agriculture, energy and industry.
As well as being a country where the EBRD works, Kazakhstan is also an EBRD donor. To date, the Kazakh government contributed €73 million supporting the EBRD’s Women in Business Programme, Business Advisory Services and policy dialogue objectives in Kazakhstan with a primary focus on transport, telecommunications and energy efficiency.
Kazakhstan's policy response to the coronavirus crisis
The EBRD is monitoring Kazakhstan's policy response to the coronavirus pandemic. Our biweekly publication identifies the major channels of disruption as well as selected impact and response indicators.
EBRD forecast for Kazakhstan’s Real GDP Growth in 2021 3.0%
Kazakhstan entered a recession in 2020 caused by lower commodity prices, a cut in oil production, and Covid-19-related disruption of domestic economic activity. Real GDP contracted by 2.9 per cent year-on year in the first seven months of 2020, driven by weak domestic and external demand. In the same period the services sector contracted by 6.2 per cent year-on-year, strongly affected by the state of emergency maintained from March 16 until May 11, and milder quarantine measures re-introduced between July 1 and mid-August. Trade and transportation declined by 11 and 15 per cent year on- year, respectively.