IMF and Kazakhstan to Establish Regional Capacity Development Center

IMF News, December 14, 2020

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Press Release No. 20/374, December 14, 2020.
IMF Managing Director Kristalina Georgieva and National Bank of Kazakhstan Governor Erbolat Dossaev signed a Letter of Understanding (LOU) at a virtual ceremony toward the establishment of a regional capacity development center in Almaty, Kazakhstan.
Quote from Kristalina Georgieva: “I would like to extend my great appreciation to Governor Dossaev and the Government of Kazakhstan for hosting the new Center and being a major contributor to its operations. Our agreement today is a strong signal of the international community’s commitment to capacity development’s role in strengthening economies and improving people’s lives, as well as to a deep and durable engagement with the region.”

The signing of the Letter of Understanding is a key step in establishing the Caucasus, Central Asia, and Mongolia Regional Capacity Development Center (CCAMTAC) in Almaty, Kazakhstan.
CCAMTAC is expected to become a focal point for planning, coordinating, and implementing the IMF’s capacity development activities in the region.
The center will support capacity development through:
- bilateral technical assistance, including hands-on assistance on macroeconomic and fiscal management, monetary operations, financial sector regulation and supervision, statistics, and help in designing structural reforms;
- regional seminars and workshops for policymakers and other government agencies of the member countries.

CCAMTAC is a collaborative venture between the IMF and the following regional member countries:
- Armenia
- Azerbaijan
- Georgia
- Kazakhstan
- the Kyrgyz Republic
- Mongolia
- Tajikistan
- Turkmenistan
- Uzbekistan
The Center will offer workshops and seminars to policymakers and other government agencies from these nine member countries.

Funding will come from contributions by regional member countries and development partners.
Countries and partners that have committed their support for the Center include:
- Kazakhstan
- Uzbekistan
- Armenia
- Switzerland
- Korea
- Poland
- the Asian Development Bank
Other member countries of CCAMTAC and bilateral and multilateral development partners are pledging their support as well.

The signing of this LOU represents an important step toward the establishment of a regional capacity development center in Almaty and demonstrates the strong partnership and commitment between the IMF and its membership in using technical assistance to:
- build economic institutions;
- foster economic stability; and
- promote inclusive growth.
Background context: The IMF offers technical assistance and training to member countries in addition to economic and financial policy advice, and lending operations. The IMF’s technical assistance helps member countries develop institutions, legal frameworks, and policies to promote economic stability and growth, while training strengthens officials’ capacity to analyze economic developments and formulate and implement effective policies.

Source: IMF Press Release No. 20/374, December 14, 2020.