The loan will provide funding to support economic sustainability
The deputies of the Majilis (Lower Chamber of the Kazakh Parliament) proceeded to the draft law On ratification of the Loan Agreement between the Government of Kazakhstan and the Asian Development Bank, Kazinform News Agency reports.
The draft law was submitted to the Majilis by the Government decree as of October 23, 2024. The loan agreement was signed in Astana this August 3.
The ADB grants Kazakhstan a loan up to 52.3 billion yen (52 335 274 722 tenge) with a maturity of 15 years, including the period of grace until June 1, 2027, Majilis deputy Tatiana SAVELYEVA said.
The loan will provide funding to support economic sustainability in Kazakhstan within the approved deficit of the republican budget for the prospected period.
As earlier reported, between 1994 and 2024 the ADB provided funding of projects worth some 7 billion US dollars in Kazakhstan. In particular, it supported the construction of the Western Europe -Western China international highway corridor and reconstruction of the Aktobe-Kandyagash road.
Photo credit: ru.wikipedia.org.
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