18.06.2009, 14:54 2667

Parliament ratified agreement on loan for development of Western Europe - Western China route

The deputies of the Senate of Parliament at the plenary session passed the Law on Ratification of the Agreement on Loan for the Project of Road Corridor South - West: the international transit corridor Western Europe - Western China between the Republic of Kazakhstan and the European Bank of Reconstruction and Development (EBRD), the agency reports.

Astana. June 18. Kazakhstan Today - The deputies of the Senate of Parliament at the plenary session passed the Law on Ratification of the Agreement on Loan for the Project of Road Corridor South - West: the international transit corridor Western Europe - Western China between the Republic of Kazakhstan and the European Bank of Reconstruction and Development (EBRD), the agency reports.

According to the conclusion of the Senate Committee for Economic and Regional Policy, the goal of the agreement is realization of the project on reconstruction and development of the network of highways and improvement of the system of maintenance of highways through attraction of $180 million loan from the European Bank of Reconstruction and Development. The loan will be given for nineteen years, including a four-year grace period.

According to the Minister of Transport and Communications, Abelgazi Kusainov, service and payment of the loan will be carried out at the expense of the funds of the republican budget according to the financial conditions established in the agreement.

The deputies also approved the accompanying bill on the ratification of the agreement on the loan between the Republic of Kazakhstan and the Asian Development Bank concerning financing of construction of the site in Zhambyl region of the international transit corridor Western Europe - Western China.

This information may not be reproduced without reference to Kazakhstan Today. Copyright of materials of News Agency Kazakhstan Today.

Found an error in the text?

Select the error and press Ctrl + Enter at the same time.

relevant news