Kazakhstan is expected to obtain credit up to 52.7 billion yen for 15 years
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 International Bank for Reconstruction and Development (IBRD), Kazinform News Agency reports.
The draft law was submitted to the Majilis by the Government decree on November 18, 2024. The loan agreement was signed in Astana on October 11, 2024.
The IBRD grants Kazakhstan a loan up to 84.9 billion yen for 11 years, 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, the Asian Development Bank may grant 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. Besides, Kazakhstan is expected to obtain credit up to 52.7 billion yen from the Asian Infrastructure Investment Bank for 15 years.
Photo credit: openigo.com.
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