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
Kazakhstan sees more active role in CAREC
In his opening address at the 47th Annual Meeting of the ADB Board of Governors, Kazakhstan President Nursultan Nazarbayev cited his country's active participation in CAREC and mentioned the program's role in fostering economic growth in the region. Read more.
(Photo credit: ADB)
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 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 2014:
Growth rose to 6% from 5% in 2012, reflecting accelerated private consumption and investment, though the current account surplus shrank further to 0.1% of GDP from 0.3% a year earlier. The pace is projected to remain at 6% in 2014 and improve to 6.4% in 2015, as the February 2014 devaluation of the Kazakh tenge and new flows from the Kashagan oilfield should boost exports and the current account surplus. 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