BAKU, Azerbaijan, October 16. Kazakhstan has
become the first country in Central Asia to join the World Bank
Group's global Metals and Minerals Compact initiative, the
government of Kazakhstan reported.


The official ceremony marking Kazakhstan's accession to the
initiative took place on October 16 on the sidelines of the Annual
Meetings of the World Bank Group and the International Monetary
Fund in Thailand. Kazakhstan was represented by Yerlan Galiyev,
Chairman of the Management Board of the National Geological Service
under the Ministry of Industry and Construction.


In line with the tasks set by the head of state in his Address
to the Nation regarding the development of the mining and
metallurgical sector and attracting investment into the economy,
Kazakhstan's Ministry of Industry and Construction and the Agency
for Strategic Planning and Reforms, in cooperation with the World
Bank, developed a country-specific Metals and Minerals Compact.


"The document defines the main areas of partnership for
2026-2030 and brings together the World Bank Group's financial,
analytical and technical support instruments," the government
reported.


The Compact is based on Kazakhstan's strategic documents,
including the National Development Plan through 2029, the Concept
for the Development of the Geological Industry for 2023-2027, and
the Comprehensive Plan for the Development of the Rare and Rare
Earth Metals Industry for 2024-2028.


One of its key objectives is to help attract approximately $20
billion in investment by 2031. The investment is expected to
support the expansion of the mineral resource base, the development
of mining and processing facilities, the introduction of modern
technologies, and the construction of the necessary
infrastructure.


The Compact provides for three main areas of cooperation.







The first focuses on improving public policy and regulatory
mechanisms in the mining and metallurgical sector. This is expected
to help establish a transparent and predictable business
environment, improve the investment climate, and promote the
adoption of international environmental and social standards.


The second covers the development of geological exploration,
infrastructure, and human capital. Priorities include digitizing
geological data, developing energy and transport infrastructure,
introducing modern metal processing technologies, and training
qualified personnel.


The third aims to attract private investment in mineral
extraction and advanced processing. The initiative provides support
for investment projects through the World Bank Group's financing
and guarantee instruments, the development of higher-value-added
production, and efforts to attract international investors.


"Kazakhstan is committed to the principles of responsible and
sustainable development of its mineral resources sector.
Cooperation with the World Bank Group supports the implementation
of national priorities in developing raw material processing and
expanding the production of higher-value-added goods. We look
forward to further strengthening our partnership, which will help
improve the competitiveness and resilience of the sector, diversify
the economy, and make more efficient use of our country's natural
resource potential," Kazakhstan's Minister of Industry and
Construction Yersaiyn Nagaspayev said.


The implementation of the Compact is expected to promote further
mineral processing, create new jobs, and strengthen Kazakhstan's
position in global value chains.