BAKU, Azerbaijan, May 14
By Nargiz Sadikhova - Trend:
The World Bank (WB) is looking to allocate nearly $1 billion to help Kazakhstan’s economy recover, WB Regional Director for Central Asia Lilia Burunciuc said, Trend reports with reference to Kazakh media.
Burunciuc made the statement during a WB webinar held on May 13, 2020.
“Currently, we are in the process of developing projects that will help Kazakhstan’s economy during the recovery phase. The first project is to be worth $500 million and aims to support country’s livestock system. This project will provide assistance to small farmers, as well as help the government implement its livestock development program. This is important for ensuring food security in Kazakhstan,” Burunciuc said.
Burunciuc added that WB is also looking to support digitalization process in the country.
“The sum that is to be allocated is yet to be specified. WB is also working on a project on digital and artificial intelligence development. This issue is also important, because the development of the digital space, the digital economy proved even more important in this period. This pandemic showed how much countries need to further develop this economy sector. At the second stage, $500 million are to be allocated for digitalization of Kazakh economy, but as the project itself is still being developed, the amount may still change. Work is underway,” she said.
Currently, WB is operating in Kazakhstan within the framework of The Country Partnership Framework (CPF), which is a strategic document that will guide the World Bank Group's support to Kazakhstan during the period 2020-2025.
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