The European Bank for Reconstruction and Development (EBRD) and the government of Kazakhstan have signed a new five-year Enhanced Partnership Framework Arrangement (EPFA) aimed at deepening cooperation and accelerating economic reforms through 2030. The agreement was formalized during the EBRD’s 2026 Annual Meeting and Business Forum in Riga.
The renewed partnership builds on an earlier framework signed in 2021 and is designed to streamline joint development activities while supporting Kazakhstan’s long-term economic transformation. It will leverage a mix of investment instruments, technical assistance, grants, and policy dialogue to promote sustainable growth and strengthen institutional capacity.
Under the new framework, the EBRD and Kazakhstan will prioritize economic resilience by supporting private-sector development, including micro, small, and medium-sized enterprises, and by attracting greater foreign direct investment. A strong emphasis will be placed on improving competitiveness and expanding opportunities for businesses across key sectors.
A central pillar of the agreement is the transition toward low-carbon development, aligned with the Paris Agreement. This includes investments in clean technologies, nature-based solutions, and broader efforts to green the economy while reducing environmental impact.
The partnership will also focus on sustainable infrastructure development, including improvements in electricity supply, water systems, and wastewater treatment. Strengthening public-private partnership frameworks is expected to play a key role in financing and delivering large-scale infrastructure projects.
Digital transformation is another major priority, with initiatives planned to expand digitalisation, artificial intelligence, and cybersecurity across multiple sectors. The agreement also aims to foster innovation through support for venture capital and high-tech startups, helping position Kazakhstan as a regional innovation hub.
Additional areas of cooperation include enhancing Kazakhstan’s role as a trade and logistics center, developing financial markets through green and sustainable bonds, and advancing the Astana International Financial Centre as a regional green finance hub. The agreement further supports ongoing privatisation efforts and reforms to increase private-sector participation in the economy.
The framework also places strong emphasis on inclusion, including gender equality, youth participation, and regional development. Both parties will continue to collaborate on technical assistance and advisory programs, with Kazakhstan committing up to €6 million in grant funding to support reform implementation, matched by the EBRD.
To date, the EBRD has invested nearly $12.8 billion across 354 projects in Kazakhstan, making it the bank’s largest and longest-standing partner in Central Asia. The new agreement is expected to further deepen this cooperation and support Kazakhstan’s transition toward a more diversified, sustainable, and innovation-driven economy.
