Kazakhstan dictionary

ADB began supporting the Government of Kazakhstan shortly after the country became independent in 1991. To help the country’s transition from a centrally planned economy to one driven by market forces, ADB provided much-needed assistance in agriculture, education, finance, and the delivery of social services. Kazakhstan’s requirements for external financing had gradually diminished, before the global financial crisis of 2007-2008 prompted the need to again access external concessional resources. ADB responded with a countercyclical loan of $500 million.

At the 47th ADB Annual Meeting of the Board of Governors in the capital Astana in May 2014, the Government of Kazakhstan and ADB signed a groundbreaking cofinancing framework arrangement that sets a new paradigm for partnership on the country’s development agenda. Meanwhile, regional cooperation under the Central Asia Regional Economic Cooperation (CAREC) Program remains an integral aspect of ADB operations in Kazakhstan.