Kazakhstan Programmatic Development Policy Financing

Development Objective

The objective of the DPL is to support the Government of Kazakhstan to implement reforms that: (i) strengthen the sustainability ofthe macroeconomic framework while protecting the vulnerable; and (ii) help improve competitiveness of the non-oil economy.

Key Details

Project Details

Project ID
P154702
Status
Closed
Team Leader
Ilyas Sarsenov , Christos Kostopoulos, Sona Varma
Borrower 2
Ministry of Finance

Country
Kazakhstan
Disclosure Date
May 21, 2015
Approval Date
(as of board presentation)
November 3, 2015
Effective Date
June 20, 2016

Total Project Cost 1
US$ 1000.00 million
Implementing Agency
Ministry of National Economy
Region
Europe and Central Asia
Fiscal Year 3
2016

Commitment Amount
US$ 1000.00 million
Environmental Category
N/A
Last Update Date
February 26, 2024
Closing Date
December 31, 2016

Last Stage Reached
BANK APPROVED

Notes
1. Total project cost includes funding from World Bank and non-bank sources in US$ millions. Active and Closed projects show current commitments. Proposed (pipeline) and dropped projects show the forecast amount. The commitment amount for projects in the pipeline is indicative and may be modified during the project preparation.
2. Borrower refers to the Borrower of a Loan or Recipient of a Grant.
3. ”Fiscal Year” is the fiscal year in which the project was approved (or dropped if the status is dropped). The World Bank's fiscal year is from July 1 - June 30. For example, a fiscal year of 1996 corresponds to July 1, 1995 - June 30, 1996.

Sectors

Themes

FY17 - Economic Policy

FY17 - Economic Growth and Planning6%
- FY17 - Migration, Remittances and Diaspora Engagement6%
FY17 - Fiscal Policy24%
- FY17 - Fiscal sustainability6%
- FY17 - Public Expenditure Policy6%
- FY17 - Subnational Fiscal Policies6%
- FY17 - Tax policy6%
FY17 - Macro-financial policies18%
- FY17 - External Finance6%
- FY17 - Macroeconomic Resilience6%
- FY17 - Monetary and Credit Policies6%

FY17 - Finance

FY17 - Financial Stability11%
- FY17 - Financial Sector oversight and policy/banking regulation & restructuring11%

FY17 - Human Development and Gender

FY17 - Labor Market Policy and Programs6%
- FY17 - Labor Market Institutions6%

FY17 - Private Sector Development

FY17 - Business Enabling Environment22%
- FY17 - Regulation and Competition Policy22%
FY17 - Jobs6%
- FY17 - Youth Employment6%

FY17 - Public Sector Management

FY17 - Rule of Law11%
- FY17 - Legal Institutions for a Market Economy11%

Project Map

Interactive Map

Finances

Financing Plan (US$ Millions)

Financier	Commitments
International Bank for Reconstruction and Development	1000.00

Total Project Financing (US$ Millions)

Product Line	IBRD/IDA
IBRD Commitment	1000.00
IDA Commitment	N/A
IBRD + IDA Commitment	1000.00

Lending Instrument
Grant Amount	N/A
Total Project Cost**	1000.00

Summary Status of World Bank Financing (US$ Millions) as of February 28, 2025

No data available.

Detailed Financial Activity as of February 28, 2025

Download:

Period	Financier	Transaction Type	Amount (US$)
Mar 1, 2024	IBRD-85530	Int Charges	299,558.20
Sep 1, 2018	IBRD-85530	Loan Repay	28,600,000.00
Mar 1, 2024	IBRD-85530	Loan Repay	28,600,000.00
Nov 3, 2015	IBRD-85530	Loan Commitment	1,000,000,000.00
Sep 1, 2023	IBRD-85530	Int Charges	483,265.97
Sep 1, 2023	IBRD-85530	Int Charges	20,690,922.00
Sep 1, 2023	IBRD-85530	Loan Repay	28,600,000.00
Sep 1, 2022	IBRD-85530	Int Charges	6,316,099.00
Sep 1, 2022	IBRD-85530	Loan Repay	28,600,000.00
Mar 1, 2023	IBRD-85530	Int Charges	1,127,628.60
Mar 1, 2023	IBRD-85530	Int Charges	17,869,098.00
Mar 1, 2023	IBRD-85530	Loan Repay	28,600,000.00
Mar 1, 2022	IBRD-85530	Loan Repay	28,600,000.00
Mar 1, 2022	IBRD-85530	Int Charges	3,538,670.80
Sep 1, 2021	IBRD-85530	Int Charges	3,895,321.00
Sep 1, 2021	IBRD-85530	Loan Repay	28,600,000.00
Sep 1, 2020	IBRD-85530	Loan Repay	28,600,000.00
Sep 1, 2020	IBRD-85530	Int Charges	10,003,344.00
Mar 1, 2021	IBRD-85530	Int Charges	4,351,893.50
Mar 1, 2021	IBRD-85530	Loan Repay	28,600,000.00
Mar 1, 2019	IBRD-85530	Int Charges	15,677,586.00
Mar 1, 2019	IBRD-85530	Loan Repay	28,600,000.00
Sep 1, 2019	IBRD-85530	Int Charges	16,335,581.00
Sep 1, 2019	IBRD-85530	Loan Repay	28,600,000.00
Mar 1, 2020	IBRD-85530	Int Charges	12,571,266.00
Mar 1, 2020	IBRD-85530	Loan Repay	28,600,000.00
Sep 1, 2016	IBRD-85530	Int Charges	464,480.88
Sep 1, 2016	IBRD-85530	Int Charges	2,779,166.80
Jun 24, 2016	IBRD-85530	Loan Disb	1,000,000,000.00
Jun 22, 2016	IBRD-85530	Fee Charges	2,500,000.00
Mar 1, 2017	IBRD-85530	Int Charges	9,301,389.00
Sep 1, 2017	IBRD-85530	Int Charges	10,222,222.00
Mar 1, 2018	IBRD-85530	Int Charges	10,558,333.00
Sep 1, 2018	IBRD-85530	Int Charges	14,668,889.00
Mar 1, 2024	IBRD-85530	Int Charges	22,213,270.00

Footnotes

Ratings

IMPLEMENTATION RATINGS

Name	Review	Date
Overall Implementation Progress (IP)	Satisfactory	2017-08-01
Progress towards achievement of PDO	Satisfactory	2017-08-01
Monitoring and Evaluation	Satisfactory	2017-08-01
Program Management	Satisfactory	2017-08-01

COMPLETION RATINGS

INDICATOR	IMPLEMENTATION COMPLETION & RESULTS REPORT: 11-26-2017
Outcomes	Moderately Satisfactory
Risk to Development Outcome	Modest
Bank Performance	Substantial
Borrower Performance	Substantial
Government Performance	Substantial
Implementing Agency	Substantial

INDEPENDENT EVALUATION RATINGS

INDICATOR	ICR REVIEW: 06-07-2018	PROJECT PERFORMANCE ASSESSMENT REPORT:
Outcome Rating	Moderately Satisfactory	N/a
Risk To Development Outcome	Substantial	N/a
Bank Performance	Moderately Satisfactory	N/a
Borrower Performance	Moderately Satisfactory	N/a
Government Performance	Moderately Satisfactory	N/a
Implementing Agency	Moderately Satisfactory	N/a
Icr Quality	Modest	N/a
M&e Quality	Substantial	N/a

Results Framework

PROJECT DEVELOPMENT OBJECTIVE INDICATORS

INDICATOR		BASELINE	CURRENT	TARGET

INTERMEDIATE RESULTS INDICATORS

INDICATOR		BASELINE	CURRENT	TARGET

Increased non-oil revenue of the state budget Value 4649.40 32.50 24.00
Date December 31, 2014 December 31, 2016 December 31, 2017
Comment
Lowered non-oil deficit (GFS classification) as a share of GDP Value 11.00 10.30 9.00
Date December 31, 2014 December 31, 2016 December 31, 2017
Comment
Lowering the volatility of the money market rates by at least 10 percent Value 100.00 -45.00 -10.00
Date December 31, 2014 December 31, 2016 December 31, 2017
Comment

Coverage of corporate rehabilitation cases initiated in calendar year, as measured by the Ministry of Finance of Kazakhstan	Value	2.00	8.62	10.00
	Date	December 31, 2014	December 31, 2016	December 31, 2017
	Comment

Capital adequacy ratio (K1-2), as measured by the National Bank of Kazakhstan Value 13.20 14.30 15.00
Date December 31, 2014 December 31, 2016 December 31, 2017
Comment
Number of Cluster Development Actions Plans conducted Value 0.00 0.00 2.00
Date December 31, 2014 December 31, 2016 December 31, 2017
Comment

Improved performance on the Citizen Engagement in Rulemaking indicators (on a scale from 0-6)	Value	3.0 (scale 0-6)	4.6 (scale 0-6)	3.5 (scale 0-6)
	Date	December 31, 2014	December 31, 2016	December 31, 2017
	Comment

Number of recommendations of the Competition Commission implemented by the Government following the subsidiarity methodology	Value	0.00	26.00	4.00
	Date	December 31, 2014	December 31, 2016	December 31, 2017
	Comment

Increased non-oil revenue of the state budget	Value	4649.40	32.50	24.00
	Date	December 31, 2014	December 31, 2016	December 31, 2017
	Comment

Lowered non-oil deficit (GFS classification) as a share of GDP	Value	11.00	10.30	9.00
	Date	December 31, 2014	December 31, 2016	December 31, 2017
	Comment

Lowering the volatility of the money market rates by at least 10 percent	Value	100.00	-45.00	-10.00
	Date	December 31, 2014	December 31, 2016	December 31, 2017
	Comment

Capital adequacy ratio (K1-2), as measured by the National Bank of Kazakhstan	Value	13.20	14.30	15.00
	Date	December 31, 2014	December 31, 2016	December 31, 2017
	Comment