ADB and AIIB loans to help Kazakhstan combat COVID-19
«The draft laws of Kazakhstan On ratification of the Loan Agreement (Active measures to combat COVID-19 and the cost support program) between Kazakhstan and Asian Development Bank and On ratification of the Loan Agreement (Active measures to combat COVID-19 and the cost support program) between Kazakhstan and Asian Infrastructure Investment Bank are submitted for your consideration,» Kazakh Finance Minister Yerulan Zhamaubayev told the Senate plenary session.
According to him, in conformity with the Decrees of the President of Kazakhstan as of August 13, 2020 there were signed Loan Agreement between Kazakhstan and ADB up to Eur 908, 596,000 and Loan Agreement between Kazakhstan and AIIB up to Eur 661,800,000. The loans will be channeled to fund the 2021 budget deficit.