27.06.2006, 11:32 2406

Parliament ratified memorandum of mutual understanding with USA

Astana. June 27. Kazakhstan Today - Today at the plenary Senate session the deputies adopted the law "On Ratification of Memorandum of Mutual Understanding between Kazakhstan and the USA Governments on Kazakh - American Economic Development Program," the agency reports.

As it was informed earlier, the arrangement on realization of the economic development program between Kazakhstan and the USA was reached during the official visit of the President Nursultan Nazarbayev to the United States America in December, 2001.

The total budget of the program makes $40 million and is intended for four-year-old period. The program will be financed jointly with the governments of Kazakhstan and the USA. The USA contribution will make $24.5 million and Kazakhstan $15.5 million.

Memorandum of mutual understanding was signed in Astana on May 5, 2006.

The law has been forwarded for the President’s ratification.

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