Kazakhstan Faces $12 Billion Oil Setback as New Investment Plans Take Shape
Kazakhstan had reason to cheer after receiving a commitment from the International Finance Corporation to help develop infrastructure projects worth $3 billion. But that happy foreign investment news was offset by an international arbitration court’s decision to throw out $12 billion in Kazakh claim
Kazakhstan had reason to cheer after receiving a commitment from the International Finance Corporation to help develop infrastructure projects worth $3 billion. But that happy foreign investment news was offset by an international arbitration court’s decision to throw out $12 billion in Kazakh claims against Western oil giants in a dispute over the development of the Kashagan oil field. The IFC, the World Bank’s private-sector wing, will get involved in projects covering the 2026-31 period, focusing on fostering public-private partnerships…
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