Kazakhstan has allocated an additional $25 million to extend its partnership with the International Monetary Fund's (IMF) Caucasus, Central Asia, and Mongolia Regional Capacity Development Center (CCAMTAC), based in Almaty.
The announcement was made by IMF Managing Director Kristalina Georgieva, who signed the relevant agreement with Timur Suleimenov, Governor of the National Bank of Kazakhstan.
According to Georgieva, the additional funding demonstrates Kazakhstan's commitment to strengthening institutional capacity and improving economic resilience across the region.
The CCAMTAC regional center provides technical assistance and expert support to nine countries, including Azerbaijan, Armenia, Georgia, Kazakhstan, Kyrgyzstan, Mongolia, Tajikistan, Turkmenistan and Uzbekistan.
Its activities focus on enhancing the professional capabilities of government institutions, strengthening economic governance and supporting the development of more effective economic policies.
The center also facilitates the exchange of expertise and practical knowledge among participating countries, contributing to institutional development across the Caucasus, Central Asia and Mongolia.
Azerbaijan is among the countries benefiting from the center's regional capacity-building initiatives, which aim to strengthen public-sector expertise and economic management.
The additional $25 million contribution will support the continuation of CCAMTAC's work with participating countries under its partnership with the IMF.