Aktau, Kazakhstan, September 17, 2009—IFC,
a member of the World Bank Group, and the Kazakhstan Public-Private Partnership
Center today signed an agreement to cooperate on increasing private sector
investments in the country’s infrastructure.
The memorandum of understanding reflects
the government’s commitment to enhance partnerships with the private sector,
and it aims to strengthen the institutional capacity of the public administration
for promoting public-private partnerships.
“With the financial crisis, governments
increasingly are turning to the private sector to improve the quality of
public services by financing, developing, and managing transportation,
energy, telecommunications, water, sanitation, and other projects,” said
Laurence Carter, Director of IFC Infrastructure Advisory Services.
“This signing marks the beginning of an
enhanced level of cooperation between IFC and the PPP Center,” said Bolat
Smagulov, Chairman of the Public-Private Partnership Center. “We will
benefit from IFC’s vast experience in providing transaction advice on
sustainable infrastructure projects.”
Established in 1989, IFC Advisory Services
in Infrastructure has worked on more than 250 projects 80 countries. IFC
is the only multilateral institution to offer direct advisory services
to governments on implementing transactions with private-sector participation.
For more information, visit www.ifc.org/infrastructureadvisory.
IFC, a member of the World Bank Group, fosters
sustainable economic growth in developing countries by financing private
sector investment, mobilizing private capital in local and international
financial markets, and providing advisory and risk mitigation services
to businesses and governments. IFC’s vision is that poor people should
have the opportunity to escape poverty and improve their lives. Our new
investments totaled $14.5 billion in fiscal 2009, helping channel capital
into developing countries during the financial crisis.
About the Kazakhstan Public-Private
The PPP Center is a joint stock company with
100 percent government participation. Established in 2008, the center has
played a leading role in key infrastructure projects such as the Shar station-Ustkamenogorsk
railway and the South Kazakhstan-Aktobe oblast electric power line.