Kazakhstan in CAREC
- Kazakhstan joined CAREC in 1997
- Since 2001, $7.9 billion has been invested in transport, trade, and energy
- 17 ongoing CAREC projects
- 5 completed CAREC projects
Harnessing innovation for Kazakhstan's sustainable growth
Matthew Westfall, Asian Development Bank (ADB) country director for Kazakhstan, shares his insights on the diversification of the country's economy and how the CAREC Program supports its goals. Read full story.
CAREC Corridor 2 (Mangystau Oblast Section) Investment Program - Tranche 2
Expected outcome: The project aims to increase transport connectivity and efficiency in the Mangystau sections of the Central Asia Regional Economic Cooperation (CAREC) Corridor 2.
CAREC Corridor 3 (Shymkent-Tashkent Section) Road Improvement Project
Expected outcome: The project will improve efficiency of transport networks the in South Kazakhstan region. It will also contribute to closer regional cooperation and increased trade along CAREC Corridor 3.
Kazakhstan is located deep in the Eurasian continent and borders the People's Republic of China, the Kyrgyz Republic, the Russian Federation, Turkmenistan, and Uzbekistan. The country has about 160 deposits of oil and gas with reserves approximately equal to present day resources of the whole Western Europe. It is also rich in commercial minerals such as chromium, iron, zinc, copper, and, tungsten.
Highlights from the Asian Development Outlook 2013:
Growth slowed to 5.0% from 7.5% in 2011, as industry largely stagnated and severe drought cut agricultural output by nearly 18%. Inflation also slowed. Rapid import growth, linked partly to public investment programs, narrowed the current account surplus to 4.3% of GDP from 7.2% in 2011, but assets in the country's sovereign wealth fund again increased. Growth is expected to recover slowly, to 5.2% in 2013 and 5.6% in 2014, as continued government investment spending boosts domestic demand. Read more.
Partner Institutions and Kazakhstan
- Asian Development Bank
- European Bank for Reconstruction and Development
- International Monetary Fund
- United Nations Development Programme | РУССКИЙ
- World Bank | РУССКИЙ