Mission to Kazakhstan: Advancing Blue Finance and Sustainable Water Investments
The study is being developed by ANINVER for the United Nations Industrial Development Organization (UNIDO) under the Partnership for Action on Green Economy (PAGE) Kazakhstan initiative.
On 17 September 2026, ANINVER consultants Ana Alarcón and Constanzo Marullo participated in a Stakeholder Validation Workshop held in Astana, Kazakhstan, as part of the study “Analysis of the Blue Industries Landscape and Expansion of Key Blue Industries Eligible for Blue Bond Financing.”
The assignment builds on the work carried out by UNIDO and the other United Nations agencies participating in PAGE to support Kazakhstan’s transition towards a greener and more sustainable economy. It aims to identify viable investment opportunities in key blue industries and strengthen the enabling conditions required to mobilize financing, including through blue bonds and other sustainable finance instruments.
The workshop opened with remarks from the PAGE National Coordinator in Kazakhstan and brought together representatives from public institutions, infrastructure operators, financial institutions and development partners. Participants reviewed the study’s preliminary findings and exchanged perspectives on Kazakhstan’s investment needs, financing opportunities and institutional environment.
The discussions were structured around three priority areas:
- Water supply, sanitation and wastewater treatment;
- Irrigation modernization and water-efficient agriculture; and
- Hydraulic infrastructure, including dams and reservoirs.
The workshop provided an important opportunity to validate the study’s main conclusions with national stakeholders and assess specific projects and investment opportunities that could potentially qualify for blue bond financing. Participants also discussed the policy, regulatory and implementation measures needed to facilitate investment and support the development of Kazakhstan’s blue finance market.
The feedback collected during the session will inform the study’s final report and help refine its recommendations. These will address the conditions required to develop a pipeline of credible and financeable blue investments, strengthen coordination among key stakeholders and attract public and private capital to sustainable water-related infrastructure and economic activities.
Through this assignment, ANINVER is contributing its expertise in infrastructure, sustainable finance and investment planning to support UNIDO and PAGE Kazakhstan in translating the country’s green economy ambitions into concrete financing and investment opportunities.
