Kazakhstan has joined the World Bank Group’s Metals and Minerals Compact, becoming the first Central Asian country in the initiative and setting a goal of attracting about $20 billion in investment by 2031.
The accession ceremony took place on October 16 in Thailand, alongside the World Bank and International Monetary Fund annual meetings, with Kazakhstan represented by National Geological Survey chairman Yerlan Galiyev. Kazakhstan’s Industry and Construction Ministry and Agency for Strategic Planning and Reforms developed the country compact with the World Bank Group as a framework for cooperation from 2026 through 2030. The investment target is intended to help expand geological exploration and the country’s mineral resource base, develop mining and processing facilities, introduce technology and build supporting infrastructure.
Priorities also include digitizing geological data, improving energy and transport links, training workers and strengthening environmental and social standards. The World Bank Group may support projects through financing, advice and guarantees, while seeking to encourage private investment and more domestic processing. The $20 billion figure is an aim, not funding already secured: the compact says it creates no automatic financial commitments, and projects will require separate agreements and approvals.
Kazakhstan was one of eight countries that announced minerals partnerships or compacts at the meetings, as the World Bank Group said it plans to expand its overall metals-and-minerals support to $19 billion for fiscal years 2026–2030.