As of December 2007, Kazakhstan has received more than $6.6 billion in investments from the international financial institutions (IFIs) since the early 1990’s.
Kazakhstan has benefited from loans and grants from the International Monetary Fund (IMF), World Bank Group, European Bank for Reconstruction and Development (EBRD), and Asian Development Bank (ADB). With the growth of Kazakhstan’s oil sector, the private sector arms of the IFIs, such as the International Finance Corporation (IFC), have played a stronger role in Kazakhstan’s development through support to private sector investors. As of January 2008, over 80% of EBRD’s investments, for example, were in the private sphere.
In recent years, EBRD, ADB, and the World Bank have focused their lending on finance, infrastructure, and governance. Nevertheless, ongoing projects and new proposals in the extractive sector remain significant areas of IFI investment. In each sector, a project's impacts on local communities and the environment, as well as engagement with civil society, are vital factors to consider. BIC partners with civil society organizations in Kazakhstan to monitor IFI-financed projects, promote stakeholder engagement, and encourage environmentally and socially responsible practices.