The Senate of the Parliament of the Republic of Kazakhstan held an extended meeting of the Finance and Budget Committee to consider the Law "On Ratification of the Framework Partnership Agreement between the Government of the Republic of Kazakhstan, on the one hand, and the International Bank for Reconstruction and Development, the International Finance Corporation, and the Multilateral Investment Guarantee Agency, on the other hand, to expand cooperation to promote sustainable development and growth in the Republic of Kazakhstan."
Representatives of the Ministry of National Economy, the Ministry of Finance, and the Supreme Audit Chamber of the Republic of Kazakhstan participated in the discussion.
During the meeting, it was noted that ratification of the Framework Agreement is aimed at strengthening Kazakhstan's cooperation with the World Bank Group and achieving sustainable economic development goals. The document provides for expanded financing instruments for projects focused on economic growth, infrastructure development, and improving the quality of life.
It was also emphasized that the agreement will enable the application of World Bank international standards in the areas of anti-corruption policy, procurement of goods, work, and services, environmental and social standards, access to information, and gender development. Furthermore, cooperation includes supporting macroeconomic and fiscal sustainability, developing agriculture, expanding access to finance for small and medium-sized businesses, modernizing infrastructure, and developing innovation and digital technologies.
(Press Office of the Senate, 74-72-27)
