The European Bank for Reconstruction and Development (EBRD) and the Government of Kazakhstan have strengthened their long-standing partnership through a new agreement designed to support investment, accelerate economic reforms, and promote sustainable development across the country through 2030.
The enhanced partnership framework arrangement (EPFA) was signed during the EBRD’s 35th Annual Meeting and Business Forum in Riga by representatives of the Ministry of Finance of the Republic of Kazakhstan and the EBRD. The new agreement builds on a previous partnership framework established in 2021 and provides a roadmap for deeper cooperation over the coming years.
The renewed framework is intended to support Kazakhstan’s economic development agenda by combining investment financing, grants, technical assistance, and policy support. Through this partnership, both sides aim to strengthen the country’s economic resilience, improve competitiveness, and advance key reforms that support long-term sustainable growth.
A major focus of the agreement will be supporting private-sector development and attracting greater foreign direct investment. The EBRD and Kazakhstan will work together to create a more dynamic business environment, with particular attention given to micro, small, and medium-sized enterprises (MSMEs), which play an important role in job creation and economic diversification.
The partnership will also support Kazakhstan’s transition towards a lower-carbon economy. In line with the goals of the Paris Agreement, the two parties will promote clean technologies, energy efficiency measures, and nature-based solutions that help reduce emissions while supporting sustainable economic growth. These efforts are expected to contribute to the country’s broader climate and environmental objectives.
Infrastructure development remains another key priority under the framework. Investments will focus on essential sectors such as electricity, water supply, and wastewater treatment. The agreement also aims to strengthen public-private partnership frameworks, helping attract additional private investment into infrastructure projects and improving service delivery across the country.Digital transformation will play an increasingly important role in the partnership.
The EBRD and Kazakhstan plan to support the adoption of digital technologies, artificial intelligence, and cybersecurity solutions across various sectors of the economy. The framework also seeks to encourage innovation by supporting venture capital initiatives and the growth of high-tech startups.Given Kazakhstan’s strategic geographic position between Europe and Asia, the agreement places significant emphasis on strengthening the country’s role as a regional trade and logistics hub.
Improved connectivity, transport infrastructure, and trade facilitation measures are expected to enhance Kazakhstan’s position as a key link in regional and international supply chains.The development of the financial sector is another important component of the partnership. Planned initiatives include expanding sustainable and green finance instruments, supporting the growth of green bond markets, improving local currency money markets, and further developing the Astana International Financial Centre as a leading regional hub for sustainable finance.
The framework also supports ongoing privatisation efforts and reforms aimed at increasing private-sector participation in the economy. Strengthening institutional capacity within both government agencies and businesses will be another area of cooperation, helping improve governance, efficiency, and long-term economic performance.
In addition, the agreement places a strong focus on inclusion. Both parties will work to promote greater participation of women, young people, and underserved regions in economic development opportunities, ensuring that the benefits of growth are shared more broadly across society.To support the implementation of these priorities, the Government of Kazakhstan has committed up to €6 million in grant funding for reform programmes and strategic initiatives identified under the EPFA.
The EBRD will match this contribution, effectively doubling the resources available for technical cooperation, advisory services, and policy support.Kazakhstan remains the EBRD’s largest and longest-standing country of operation in Central Asia. Since beginning its activities in the country, the Bank has invested nearly US$12.8 billion (approximately €11 billion) across 354 projects.
These investments have supported a wide range of sectors, including infrastructure, energy, finance, transport, and private enterprise development, making Kazakhstan one of the EBRD’s most significant partners in the region.
The new partnership framework underscores the shared commitment of the EBRD and Kazakhstan to driving economic modernisation, attracting investment, advancing sustainability goals, and strengthening the country’s position as a leading economy in Central Asia.
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