ASTANA, Kazakhstan, April 24. At the spring meetings of the International Monetary Fund (IMF) and the World Bank, the Chairman of the National Bank of Kazakhstan (NBK), Timur Suleimenov, signed a Framework Agreement with the International Bank for Reconstruction and Development (IBRD), Trend reports via Kazakhstan’s National Bank.
According to information, the agreement aims to develop cooperation in key areas such as strengthening expertise, conducting joint research, and exchanging best practices between the two organizations. These initiatives are intended to contribute to improving financial stability and the development of Kazakhstan's economy.
The International Bank for Reconstruction and Development (IBRD) is part of the World Bank, which provides loans and financing for the development of middle-income countries and the poorest countries that need support to achieve sustainable economic growth.
In March 2024, the World Bank approved a $600 million loan for Kazakhstan under the Policy Development Program. The goal of the program is to support reforms aimed at transitioning to a more competitive, environmentally friendly, and inclusive economy.