Abstract
This study analyzes Kazakhstan’s cooperation with global and regional multilateral development banks (MDBs) within the framework of its multi-vector foreign policy. The methodology employs retrospective, logical, and document analysis to examine the evolution and structure of Kazakhstan’s interaction with MDBs. The study considers this cooperation in the context of criticism of the Western-centric financial system and the emergence of alternative international financial institutions. Statistical analysis identifies an increase in MDB lending to Kazakhstan during the research period, accompanied by a shift from structural reform financing towards projects focused on infrastructure and the real sector of the economy. The findings demonstrate that cooperation with MDBs supports Kazakhstan’s multidirectional foreign policy by diversifying external financial partnerships and strengthening regional integration. The practical significance of the research lies in showing how financial autonomy enables Kazakhstan to expand funding sources while maintaining strategic flexibility.