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There is clear case for Kazakhstan to change its growth model - WB

30 September 2022 20:10 (UTC+04:00)
There is clear case for Kazakhstan to change its growth model - WB

By Trend

There is a clear case for Kazakhstan to change its growth model to become a lower carbon and higher productivity economy despite the global and local challenges, Anna Bjerde, World Bank’s Vice-President for Europe and Central Asia said, Trend reports citing the Bank.

Bjerde made the statement during a meeting with Alikhan Smailov, Prime-Minister of Kazakhstan.

Bjerde commended the Government’s plans to finalize the Nationally Determined Contribution (NDC) before COP27 and complete the Low Emission Development Strategy (LEDS), and encouraged a coordinated activity on climate adaptation, where the World Bank’s support through the Partnership for Market Implementation and other key analytical works could be instrumental.

“There is a clear case for Kazakhstan to change its growth model to become a lower carbon and higher productivity economy despite the global and local challenges. The LEDS is an important step for the transformations that are needed to decarbonize the economy. The next crucial step is to determine and implement the policies and programs that will drive these transformations,” said Bjerde.

She added that equally relevant is the issue of adaption to the impacts of climate change on the economy, and the Bank stands ready to support Kazakhstan in addressing some of these critical issues.

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