Kazakhstan among top three borrowers of World Bank


Kazakhstan among top three borrowers of World BankThis year Kazakhstan became one of the three largest borrowers of the World Bank in the Emerging Europe and Central Asia (ECA) region, according to public relations department of the World Bank’s representation in Kazakhstan.

“The total volume of financial support to the ECA region reached USD 6.6 billion in this financial year; this amount includes USD 6.2 billion allocated by the International Bank for Reconstruction and Development (IBRD) and USD 362 million provided by the International Development Association (IDA). The largest borrowers were Romania (USD 1.9 billion), Turkey (USD 1.1 billion), Kazakhstan (USD 1.1 billion) and Poland (USD 1 billion),” the bank said.

As noted, the borrowed funds are used to support the three areas in the region: further deepening of reforms with the aim to enhance competitiveness, promoting social reform in the interest of economic growth that favors the interests of the broader population groups, and assisting countries to implement activities leading to “greening” of economic growth.

All in all, the World Bank Group provided to the ECA region more than USD 10.4 billion in 2012 fiscal year that ended June 30.