OREANDA-NEWS. January 28, 2015. The World Bank will support Kazakhstan in realization of economic and social reforms. This has been reported today by Kazakh Vice Minister of National Economy Madina Abylkassymova in an interview in Akorda.

"Kazakhstan is actually selected as one of the few countries in the world, which will be supported (by the World Bank – auth.) in the implementation of the necessary structural economic reforms to move from a number of countries with an average level of development in a number of countries with high per capita income. This calls for reforms in the economic and social sphere," M. Abylkassymova said.

In this regard, she said, a diversified portfolio of projects has been formed for implementation with the World Bank. First of all, these are projects aimed at the implementation of the President's Address "Nurly Zhol - The path to the Future". In particular, the World Bank will provide investment loans for development of transport corridors "Astana-Almaty", "Astana-Beyneu". The total investment is expected to amount to 3.5 billion dollars.

In addition, the projects will be implemented for development of competitiveness of small and medium-sized businesses, credit lines for SME financing in the amount of 200 million US dollars will be given and institutional support to improve the competitiveness of business and to attract investment in the amount of 246 million US dollars will be provided.

Projects on environmental protection, water resources will also be implemented in the amount of 363 million US dollars.

"First of all, this is a project for the development of the northern part of the Aral Sea, correction of the river Syr Darya, irrigation and drainage systems in Kazakhstan, increase of forest cover and forest conservation in Kazakhstan, as well as waste management projects, including in the cities," M . Abylkassymova said.

In general, as the Vice Minister noted, within the framework of the agreement signed in May 2014 between the Government of the Republic of Kazakhstan and the World Bank, the latter will provide loans and will provide technical assistance in the amount of 6 billion US dollars.