Kazakhstan, WB sign deal on co-op
The Kazakh government and the World Bank Group signed a framework agreement on strengthening of cooperation. The agreement is aimed at Kazakhstan's sustainable development and growth.
Before the signing ceremony, Kazakh President Nursultan Nazarbayev discussed cooperation with the World Bank's representatives.
"In all the years of its independence Kazakhstan has cooperated with the World Bank, which has become a very important partner," the president said at the meeting with World Bank's Vice President Laura Tak, Executive Vice President of the Multilateral Investment Guarantee Agency Keiko Honda and Vice-president of the International Finance Corporation Karin Finkelston.
The president thanked the bank for its response to Kazakhstan's new proposal on further cooperation.
Nazarbayev reminded attendees that Kazakh government allocates 1 trillion tenge (182.06 tenge = $1) on economic development, especially small and medium-sized businesses, as well as the implementation of the industrial program in 2014.
Laura Tak in turn stressed that the Strategy "Kazakhstan- 2050" coincides with the work plan of the World Bank.
The World Bank's investment portfolio in Kazakhstan includes 10 projects with a total commitment of $3.6 billion. Some $1.5 billion of this sum has been invested.
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