Kazakhstan Country Update #15
September 2007
24 September 2007
Recent developments, decisions, and civil society activities related to activities of the International Financial Institutions (IFIs) in Kazakhstan.
Kazakhstan Country Updates provide information about recent developments, decisions, and civil society activities related to International Financial Institution (IFI) involvement in Kazakhstan including that of the World Bank (WB), International Finance Corporation (IFC), International Monetary Fund (IMF), European Bank for Reconstruction and Development (EBRD) and the Asian Development Bank (ADB). If you would like to be included in or removed from the distribution list, please e-mail the moderator, George Holliday, at . Correspondence with BIC may be conducted in Russian.
The Bank Information Center (BIC) partners with civil society in developing and transition countries to influence the World Bank and other international financial institutions (IFIs) to promote social and economic justice and ecological sustainability. BIC is an independent, non-profit, non-governmental organization that advocates for the protection of rights, participation, transparency, and public accountability in the governance and operations of the World Bank, regional development banks, and IMF. For more information about BIC, see www.bicusa.org.
I. IFI Project Activities
EBRD commits $32 million for marine support and supply base in Kazakhstan
The Bank has committed a $32 million loan and $10 million equity investment for the Balykshy-owned base. The first privately-owned permanent marine support and supply base in Kazakhstan is being constructed to respond to increasing demands from off-shore oil operators for support and supply services.
EBRD gives $100 million loan to Mittal Steel Termitau coal mines
The Bank’s loan is intended to support Mittal Steel Termitau’s plan to modernize operations. The Bank says that this project is the first in a larger initiative to assist in improving the environmental, health, and safety practices in mines in countries in which the Bank operates.
ADB supports securitization markets in Kazakhstan
The ADB is providing a $100 million credit guarantee to JSC Kazkommertsbank to securitize the bank’s diversified payment rights.
World Bank approves environmental project in Kazakhstan
The Ust-Kamenogorsk Environmental Remediation project was approved 1 February 2007. The proposed aims of the project are to prevent further groundwater contamination and strengthen groundwater quality monitoring measures.
II. IFI Consultations and Policy Updates
2007 Annual Meetings of the European Bank for Reconstruction and Development
- Update 15 May 2007 (BIC Website)
2007 Annual Meetings of the Asian Development Bank
The ADB marked its 40th year of operation in Kyoto, Japan.
- Update 7 May 2007 (BIC Website)
EBRD and Sustainable Development Fund Kazyna broaden cooperation
On 27 March 2007, senior representatives from the EBRD and Sustainable Development Fund Kazyna met for a workshop focused on broadening their cooperation. They discussed investments and projects that could be co-financed.
III. Civil Society Activities
Central Asia NGO forum on ADB issues comments to Asian Development Bank, 20 September 2007
On 20 September 2007, the CA NGO Forum on ADB issued comments on Long-Term Strategic Framework and other documents.
NGO Forum Comments (ENG) (Acrobat PDF, 36 KB)
NGO Forum Comments (RUSS) (Acrobat PDF, 234 KB)
Civil society compares ADB safeguard policies with peer institutions
- Update 20 September 2007 (BIC Website)
NGOs express concerns about impacts of Kashagan oil field development
An NGO coalition working to monitor the environmental, health, and social impacts of development of the Kashagan oil field voiced concerns about the project. They urged the European Commission and public and private financial institutions to assess the environment, health, and social impacts before resuming operations.
ADB completes consultation process on draft Energy Strategy
The ADB completed the consultation period on its draft Energy Strategy on 27 July 2007. There was a 60-day comment period following the draft’s release.
- Update 17 August 2007 (BIC Website)
ADB releases draft Energy Strategy for 60-day comment period
On 28 May 2007, the ADB released its draft Energy Strategy for a 60-day comment period.
- Update 7 June 2007 (BIC Website)
EBRD begins civil society engagement in review of its environmental policy
On 11 May 2007, the EBRD released a Discussion Paper outlining its new environmental policy. There is a 45-day comment period for civil society before the EBRD prepares a draft of the policy.
- Update 15 May 2007 (BIC Website)
NGOs organize panel discussion on ADB Safeguards Policy
- Update 17 May 2007 (BIC Website)
Civil Society Points to Weak Transparency of ADB Safeguards Policy Update
- Update 8 February 2007 (BIC Website)
IV. Additional Resources
Previous Country Updates and related reports can be found on BIC’s website on the Kazakhstan page. These reports are available in English and in Russian.
Kazakhstan International Oil and Gas Exhibition and Conference (KIOGE) to be held 2-4 October 2007 in Almaty
Central Asia: SCO Leaders Focus On Energy, Security, Cooperation
The six leaders of the member states of the Shanghai Cooperation Organization met for their annual summit in Bishkek, Kyrgyzstan. The heads of state agreed on a "unified energy market" and emphasized the importance of energy resources.
- Article 16 August 2007 (Radio Free Europe/Radio Liberty Website)
Progress toward some MDGs slow in Central Asia and South Caucasus
An ADB expert said progress toward achieving some Millennium Development Goals (MDGs), particularly those related to HIV/AIDS, environment, and water management, in the region has slowed down. This update came prior to the MDG Forum for Central Asia and the Southern Caucasus, held July 19-20 in Bishkek, Kyrgyzstan.
World Bank releases governance indicators report
World Bank releases report on facilitating economic growth in Eastern Europe and Central Asia
The new report, Fiscal Policy and Economic Growth: Lessons for Eastern Europe and Central Asia, was released July 2, 2007. The Bank study concludes that public spending and tax reforms can encourage economic growth in the region.