Forum of World Bank group and International Monetary Fund

The Kazakh delegation took part in the annual meeting of the boards of governors of the World Bank Group and the International Monetary Fund in Washington. The theme of the forum was the global One Belt, One Road initiative. The current President of the World Bank Group Jim Yong Kim said that this project is ambitious and unprecedented which unites the Great Silk Road. He announced that a Memorandum of Understanding was signed with other development banks to support this project. According to Western and Kazakh experts, the One Belt, One Road initiative has a great potential to decrease the trade costs, to increase competitiveness as well as to improve the region’s transit and transport infrastructure. The speakers of the forum highlighted that many countries will benefit from the implementation of the project.


- The One Belt, One Road is one of the important initiatives to ensure Kazakhstan’s sustainable economic development. If you look at the map, you will see the Great Silk Road on the territory of Kazakhstan. President of China, Xi Jinping presented this initiative in Astana in 2015 as the new Silk Road and economic belt. Since then, Kazakhstan has taken several important steps.  For example, Kazakhstan initiated a new infrastructure development program. It is important to use the transit potential as much as we can. We are finishing Kazakhstan’s part of the Western Europe - Western China International Transit Corridor.