The Government of the Republic of Kazakhstan and the European Bank for Reconstruction and Development to expand cooperation aimed at promoting sustainable development and growth of the Republic of Kazakhstan
Resolution of the Government of the Republic of Kazakhstan dated June 4, 2026 No. 465
THE Government of the Republic of Kazakhstan DECIDES:
1. To approve the attached draft Framework Partnership Agreement between the Government of the Republic of Kazakhstan and the European Bank for Reconstruction and Development on expanding cooperation aimed at promoting sustainable development and growth of the Republic of Kazakhstan.
2. To authorize the Minister of Finance of the Republic of Kazakhstan Takiev Madi Tokeshovich to sign on behalf of the Government of the Republic of Kazakhstan a Framework Partnership Agreement between the Government of the Republic of Kazakhstan and the European Bank for Reconstruction and Development to expand cooperation aimed at promoting sustainable development and growth of the Republic of Kazakhstan, allowing amendments and additions that are not fundamental.
3. This resolution shall enter into force from the date of its signing.
The Prime Minister of the Republic of Kazakhstan
O. Bektenov
Approved by Resolution No. 465 of the Government of the Republic of Kazakhstan on June 4, 2026
Project
Framework Partnership Agreement between the Government of the Republic of Kazakhstan and the European Bank for Reconstruction and Development to expand cooperation aimed at promoting sustainable development and growth of the Republic of Kazakhstan
This Partnership Framework Agreement (hereinafter referred to as the "Framework Agreement") is concluded between the Government of the Republic of Kazakhstan (hereinafter referred to as the "Government") and the European Bank for Reconstruction and Development (hereinafter referred to as the "EBRD"), hereinafter separately referred to as the "Party" and collectively referred to as the "Parties".
CONSIDERING that the EBRD is an international financial institution established in accordance with international law and the Agreement Establishing the EBRD dated May 29, 1990 (hereinafter referred to as the "EBRD Agreement"), the purpose of which is to facilitate the transition of countries to an open market economy and the development of private entrepreneurship in the countries in which the EBRD operates;
CONSIDERING that the Government intends to strengthen the process of economic reforms in Kazakhstan, including by stimulating the process of attracting external and domestic investments, implementing appropriate structural reforms and diversifying the economy to ensure sustainable growth and development of the Kazakh economy, the Government therefore intends to strengthen its long-standing partnership with the EBRD and continue exploring opportunities to develop joint initiatives and expansion of mutual cooperation to promote the development of Kazakhstan's economy and improve the well-being of its citizens;
CONSIDERING that the EBRD and the Government intend to sign this Framework Agreement, which will serve as a basis for strengthening cooperation to promote economic development in Kazakhstan, including through the use of various investment instruments, working capital and factoring financing instruments, investment grants, technical assistance projects, and regular dialogue on government policies for socio-economic development;
The Parties have hereby agreed as follows:
Section 1. Goals
The objectives of this Framework Agreement are to strengthen cooperation between the Parties on a non-exclusive basis in order to promote the development of a sustainable economy in Kazakhstan with the active involvement of private business based on the principles of diversification, sustainability, environmental friendliness ("green economy"), inclusivity and digitalization, as well as the achievement of sustainable development goals in the country.
The achievement of these comprehensive goals will be achieved through the joint work of the Parties on critical structural reforms, including changing the legislative and institutional framework of the country's economy, as well as identifying, structuring and potentially financing EBRD investment projects with Government support where necessary. The parties will also cooperate to achieve the goals set out in the National Development Plan of the Republic of Kazakhstan until 2029, Decree of the President of the Republic of Kazakhstan dated May 28, 2024 No. 542 "On measures to liberalize the economy", as well as in the Program of Joint Actions of the Government, the National Bank of the Republic of Kazakhstan and the Agency of the Republic of Kazakhstan for Regulation and Development of the Financial Market. on macroeconomic stabilization and improving the welfare of the population for 2026-2028. The Framework Agreement will also provide a framework for coordinating work with other international financial institutions (hereinafter referred to as "IFIs") present in Kazakhstan.
Section 2. Areas of cooperation
2.1. The areas of cooperation under this Framework Agreement will be jointly determined by the Parties, taking into account internal rules and procedures. The Parties have the right to involve other MFIs to participate in the implementation of the measures provided for in this Framework Agreement.
2.2. Within the framework of this Framework Agreement, the Parties will cooperate in the following areas::
(i) Private sector support to enhance the sustainability of Kazakhstan's economy;
(ii) attracting foreign direct investment into the economy of Kazakhstan through investment projects, as well as through the implementation of sectoral and general economic reforms;
(iii) supporting Kazakhstan's further integration into the regional and global economy and value chains through financing investment projects in sectors such as infrastructure, energy and manufacturing;
(iv) prioritization of low-carbon development and compliance with the Paris Climate Agreement within the framework of Nationally Determined Contributions and the Low-Carbon Development Strategy of the Republic of Kazakhstan;
(v) development of the green economy through the introduction of modern energy-efficient and resource-saving technologies, the development of nature-oriented solutions, the creation of new forms and tools to support the green economy, such as co-financing of capital investments, risk allocation/coverage of loans linked to sustainability, carbon market instruments and technical cooperation funds for integrated evaluation of "green" projects, as well as support for the development of the necessary regulatory framework for further scaling of "green" financing;
(vi) investing in the Tariff-for-Investment program and improving the regulatory framework for decarbonization of the energy sector, including renewable energy production, strengthening electricity grids, balancing electricity and implementing energy storage solutions, using gas networks and gas power generation to significantly improve air quality in accordance with the strategy for the development of the low-carbon energy sector;
(vii) investing in companies and projects for the distribution of electricity, water supply, sanitation, sewage treatment plant, irrigation and others within the framework of the National Project of Kazakhstan "Modernization of energy and Utility sectors" and the program "Tariff in exchange for investments" by facilitating the preparation of projects through technical assistance, as well as improving the regulatory framework for regulated entities funded by technical cooperation and capital grants;
(viii) promoting digitalization, artificial intelligence and cybersecurity, including distribution and electricity generation companies through digital transformation, resilience to cyber threats; assistance in the formation of a national digital financial infrastructure in Kazakhstan that provides remote financial services and the development of modern digital solutions, the transition to business process management based on cloud solutions with the introduction of digital data warehouses as part of a Strategy of large-scale digitalization and the total introduction of artificial intelligence technologies – Digital Qazaqstan;
(ix) promoting innovation and digitalization through the development of venture financing, including early-stage high-tech companies, and the use of digital technologies in the private and public sectors of the economy;
(x) improving the regulatory framework for decarbonization of industrial and high-emission manufacturing sectors (e.g. cement, metallurgy, and others), as well as support for resource- and energy-efficient solutions;
(xi) development of an inclusive, sustainable and green digital infrastructure that ensures the formation of a reliable and innovative technological ecosystem (including the deployment and modernization of digital infrastructure, the expansion of networks in underserved regions, the introduction and/or expansion of new technology-oriented services, increasing the sector's resilience to cyber threats, etc.);
(xii) strengthening the legal and institutional framework of public-private partnership (hereinafter referred to as "PPP") in order to comply with international standards and launch PPP projects in accordance with international practice, developing modern infrastructure throughout Kazakhstan using PPP and other models;
(xiii) support efforts aimed at reducing housing shortages, which may include the provision of financing, as well as advisory support on policy-making and regulatory frameworks that encourage private sector investment in sustainable housing solutions, as well as support for the development of PPP projects for housing projects;
2.3. The programs will be implemented at the expense of capital investment funds and technical cooperation support, which will be allocated by the Government in accordance with the legislation of the Republic of Kazakhstan to promote sustainable economic development, including in the areas specified in paragraph 2.2. This Framework Agreement, including co-financing of infrastructure projects on a sovereign and sub-sovereign basis and replenishment of the technical cooperation account under the EBRD Business advisory Services program to support small and medium-sized enterprises in the Republic of Kazakhstan, which was agreed to be extended for the period from 2026 to 2030. The mechanisms for the allocation of the above funds will be determined individually on the basis of separate agreements between the Parties.
2.4. Within the framework and through the tools mentioned in the Country Strategy for Kazakhstan approved by the EBRD Board of Directors, in accordance with the EBRD's internal rules, procedures and approvals,:
(i) organize the provision of advice and technical assistance in the development and implementation of projects;
(ii) provide loans and other financial support in accordance with internal procedures and regulations;
(iii) provide support for monitoring and evaluating the implementation of projects managed by the EBRD, in accordance with the EBRD's internal policies, procedures and rules; and
(iv) collaborate with other MFIs, development partners, and stakeholders.
Section 3. Implementation mechanisms
3.1. The Coordinating Council for the Implementation of the Partnership Framework Agreements between the Government and MFIs, established in 2014 to implement the initial and subsequent versions of this Framework Agreement, will review key public policy measures and overall oversight of program implementation, as well as facilitate effective decision-making.
3.2. The Coordinating Council will hold regular meetings as necessary to approve new projects. In addition, on a quarterly basis or more frequently, if necessary, the Coordinating Council will be convened to discuss current issues on projects in the stages of preparation for signing and/or implementation.
3.3. The Government, together with the EBRD and other MFIs, will develop a cooperation program for the development of Kazakhstan within the framework of the framework partnership agreements between the Government and the MFIs (hereinafter referred to as the "Program") for investment projects and projects to attract technical assistance (consultations). Changes and the implementation of the Program will be regularly reviewed at meetings of the Coordinating Council.
3.4. All decisions of the Coordinating Council, operations and activities carried out in accordance with this Framework Agreement are subject to (i) compliance with the internal policies, procedures and coordination of the Parties and (ii) the conclusion of separate legal agreements between the Parties and/or agreements between the EBRD and the beneficiaries of the projects.
Section 4. Obligations of the Parties
4.1. This Framework Agreement does not impose any financial obligations on the Parties. Any such commitment should be reflected in separate agreements that may be accepted by the Parties in accordance with this Framework Agreement. Such obligations and agreements are subject to separate agreement in accordance with the internal rules and procedures of the Parties. This Framework Agreement does not impose obligations on either Party to give preferential treatment to the other Party.
Section 5. Procedure for entry into force, amendments and additions, termination of this Framework Agreement and other issues
5.1. This Framework Agreement comes into force from the date of signing by the Parties and is valid until December 31, 2030.
5.2. Either Party may notify the other Party in writing through diplomatic channels of its intention to terminate this Framework Agreement. In this case, this Framework Agreement shall terminate upon the expiration of 6 (six) months from the date of receipt of the relevant notification by one of the Parties.
5.3. By mutual written consent of the Parties, this Framework Agreement may be amended and supplemented, which are its integral parts.
5.4. Any disputes arising in connection with the interpretation and/or application of the provisions of this Framework Agreement shall be resolved by the Parties through consultations.
5.5. This Framework Agreement reflects the views and intentions of the Parties to cooperate on a non-exclusive basis and does not impose any legal or other obligations on the Parties. This Framework Agreement does not legally apply to a third party.
5.6. Nothing in this Framework Agreement constitutes and cannot be interpreted as a waiver or modification of the privileges, immunities and benefits granted by the EBRD under the Agreement of the EBRD and the Agreement between the Republic of Kazakhstan and the EBRD on Cooperation and Activities of the EBRD in the Republic of Kazakhstan, signed on May 11, 2013.
IT'S BEEN DONE "__" ___________ 2026 years in the city ____________________________ in two copies, each in Kazakh, English and Russian languages. In the event of a discrepancy between the texts, the English text shall prevail.
For the Government of the Republic of Kazakhstan
For the European Bank for Reconstruction and Development
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