Kazakhstan and Asian Development Bank sign a lending agreement as part of the anti-crisis program to support ADB member states
September 14 Astana hosted signing of a lending agreement between Kazakhstan and Asian Development Bank as part of the anti-crisis program to support ADB member states. The agreement was signed by Kazakhstan’s Minister of Finance Bolat Zhamishev and Stephen Wermert, Country Director of the ADB Kazakhstan.
According to the agreement, ADB will extend Kazakhstan a loan of USD 500 million for a five-year term, including a three-year grace period for the principal repayment. The funds will be channeled to finance budget deficit and implement the Government’s program of anti-crisis measures.
“ADB is impressed with the efficiency of the anti-crisis measures taken by the Kazakhstan’s leadership”, said Stephen Wermert at the ceremony. In his speech he lauded prospects of further cooperation between Kazakhstan and ADB, noting that expanding partnership with Kazakhstan is of priority for the bank.
Kazinform
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