Baku, Azerbaijan, Oct. 24
By Rashid Shirinov – Trend:
The World Bank’s key areas of engagement in Kazakhstan include improving the quality of human capital, creating space for private sector growth and innovation, and enhancing connectivity and regional development, the Bank told Trend on October 24.
“On the human capital development front, the World Bank is supporting improvements in the education and health sector. The Bank is helping the Kazakh government to provide more targeted social protection programs that protect the vulnerable and promote employment participation,” the message said.
On private sector growth and innovation in Kazakhstan, the World Bank provides advice on an array of growth-friendly changes, such as improvements in tax regulations, fiscal management, economic resilience, and strengthening the rule of law, with an aim to create a space for private sector development and innovation.
“The World Bank’s private sector arm – International Finance Corporation – has invested more than $130 million in a leading microfinance institution in Kazakhstan to support the expansion of the private sector,” the bank said in the message.
The WB is also engaged in the transport sector in Kazakhstan – it supports over 1,600 kilometers of roads critical to exports and in the poorest regions of the country but with great agriculture potential.
“Improved transportation will help to open up regional development and link agriculture production to markets, both within Kazakhstan and abroad,” said the message.
The World Bank is helping Kazakhstan to continue its transition to a more productivity- and innovation-based society.