Senate ratifies agreement to set up WB offices in Kazakhstan

    The Kazakh Senate ratified the agreement between the government of Kazakhstan and the International Bank for Reconstruction and Development (IBRD) to establish and operate the World Bank's offices in Kazakhstan at a plenary session today.
    "This agreement will replace the previous deal from 1994 that established the bank’s permanent office in Almaty.
    The new agreement clarifies the purpose, status, privileges and immunities of the World Bank offices and its staff in Kazakhstan as per the agreement with the World Bank ratified by Kazakhstan in 2004," National Economy Minister, Yerbolat Dossayev said during the session.
    "Thanks to close cooperation with the World Bank, Kazakhstan has become the ‘largest country’ (original - KNL) in Central Asia in terms of investment attracted from the World Bank," Dossayev added.
    The agreement was inked on January 21, 2016 on the sidelines of the World Economic Forum in Davos between the Kazakh government and the IBRD, Kazinform reports.