Parliament OKs agreement between Kazakhstan and ADB

Parliament OKs agreement between Kazakhstan and ADB

The Kazakh Parliament has approved the bill “On ratification of the agreement between Kazakhstan and the Asian Development Bank”, Trend News Agency reported.

Kazakh Minister for Investment and Development Zhenis Kasymbek, addressing the session, reminded that the main Loan Agreement was signed on June 18, 2013 for $ 371 million and was ratified by the Law on December 26, 2013 for the reconstruction of the 170-km-long Shetpe-Aktau road.

A part of the allocated fund were saved, and the government made a decision to use the savings of $ 73.3 million for the reconstruction of the neighboring road section “Zhetybai-Zhanaozen”.

The relevant document was signed on June 20, 2017 between the Republic of Kazakhstan and the Asian Development Bank, Kasymbek said, the ministry reported.

The minister also spoke about the projects planned for implementation within the framework of the Nurly Zhol program.

“Within the framework of the Nurly Zhol program, 11 large road projects will be realized. some of these projects are planned to be realized through funds borrowed from international financial institutions – $ 1.8 billion,” Kasymbek said.

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