The World Bank has approved a $75 million loan to support the development of high-tech startups in Kazakhstan, create new jobs, and attract private investment into the country’s technology sector.
On September 30, the World Bank’s Board of Executive Directors approved the Advancing Learning, Entrepreneurship, and Markets for Artificial Intelligence (ALEM) project. The program will run through 2031 and aims to help Kazakhstani technology startups launch, commercialize their products, attract investment, and expand into international markets.
One of the project’s main goals is to increase the number of highly skilled jobs in Kazakhstan’s technology sector. According to the World Bank, the program could contribute to the creation of 10,000 new jobs. The project will focus on four key areas:
- developing advanced digital and AI skills;
- expanding access to high-performance computing infrastructure;
- developing prototyping facilities for robotics;
- improving access to financing for startups at later stages of growth.
The World Bank estimates that Kazakhstan currently faces a $20–25 million annual financing gap for growth-stage startups — companies that have moved beyond the early stage but require additional capital to scale.
By December 2031, the project aims to support 800 startups through pre-seed, seed, and international acceleration programs. The initiative will also provide advanced technology training to 28,000 young people and help more than 50 companies access venture capital.
The project is expected to mobilize at least $60 million in private capital. As part of the initiative, $20 million will be allocated through a Fund-of-Funds mechanism, managed by Alem Capital Management.
The program will also connect Kazakhstani founders with international accelerators and technology hubs, giving startups greater access to global markets and investors.
The new project comes as Kazakhstan seeks to diversify its economy and reduce its dependence on traditional sectors by developing technology and innovation.
According to the World Bank, Kazakhstan’s ICT exports increased from $132 million in 2019 to $1.1 billion in 2025. The country aims to increase this figure to $5 billion by 2030.
The ALEM project is aligned with Kazakhstan’s National Development Plan through 2029 and its 2024–2029 Concept for the Development of Artificial Intelligence. The World Bank also notes that companies in Europe and Central Asia using AI-related technologies can achieve 10–20% higher productivity on average.
The new initiative builds on the World Bank-supported Fostering Productive Innovation Project in Kazakhstan. Under the previous project, 162 startups and research teams received support. Together, they attracted more than $23 million in initial sales and private investment and created nearly 2,000 jobs.
The new program will shift the focus further toward commercialization, investment attraction, and international expansion. For Kazakhstan, the initiative represents another step toward developing technology startups as a source of economic diversification, skilled employment, and private capital.
