Kazakhstan's National Strategy (1) - A Perspective from the European Bank for Reconstruction and Development

Key Chapter Title List

1. Implementation Status of Previous Phase Cooperation (2017-2021)
2. Economic Context
3. Government Priorities and Stakeholder Engagement
4. Definition of EBRD Kazakhstan Country Strategy Priorities
5. Activities and Results Framework
6. Complementarity Mapping of International Partners in EBRD's Operational Areas
7. Implementation Risks and Environmental & Social Impact
8. Donor Co-financing Assessment
9. Appendix – Political Assessment

Document Introduction

This report is the Kazakhstan Country Strategy for 2022-2027, approved by the European Bank for Reconstruction and Development (EBRD) in June 2022. It systematically outlines the country's recent political and economic changes, development achievements, and core challenges, providing strategic guidance for cooperation over the next five years. The report takes Kazakhstan's geographical advantage as a landlocked country in the heart of Eurasia and its status as a middle-income economy as a starting point, focusing on its key gaps in economic transition, green development, and social inclusion.

Since 2017, Kazakhstan has experienced major events such as political leadership changes and the January 2022 protests. The political and judicial reforms promoted by President Tokayev have received some international recognition, but civil society organizations remain skeptical about the scope and pace of the reforms. Economically, the country's resource-dependent growth model faces transformation pressures. Issues such as a coal-dominated power structure, regional development imbalances, and insufficient competitiveness of small and medium-sized enterprises (SMEs) are prominent. Furthermore, the COVID-19 pandemic, oil price volatility, and supply chain disruptions triggered by the Ukraine crisis have exacerbated economic vulnerability.

The report has a clear structure. It first reviews the implementation results of the 2017-2021 strategy, including key achievements such as the development of the Public-Private Partnership (PPP) market, expansion of SME financing channels, enhancement of regional connectivity, and advancement of renewable energy projects. It also analyzes implementation obstacles such as the influence of politically connected individuals, distortive industry subsidies, and tariff freezes. Subsequently, based on the macroeconomic context and transition challenges, it defines three core strategic priorities: enhancing private sector competitiveness and economic governance; supporting the green carbon-neutral transition and climate resilience building; and promoting economic inclusion and gender equality through private sector participation.

In terms of data support, the report integrates authoritative data from institutions such as the World Bank, the International Labour Organization, and the International Energy Agency, covering key indicators like GDP per capita, unemployment rate, energy intensity, and carbon emission intensity. Through comparative analysis with Central Asian neighbors and OECD countries, it highlights Kazakhstan's development positioning and gaps. Simultaneously, the report elaborates in detail on the EBRD's specific action framework, expected outcomes, and monitoring indicators, clarifying directions for synergistic cooperation with international partners in areas such as the green economy, infrastructure, and inclusive growth.

This strategic document not only provides an operational blueprint for the EBRD's investments and policy support in Kazakhstan but also serves as an authoritative reference for understanding the country's transition path, policy priorities, and space for international cooperation within a complex geopolitical environment. It holds significant value for policymakers, investors, and geopolitical researchers.