National Fund to grant USD 4 bln bond loan to KazMunaiGas
ASTANA. February 29. KAZINFORM The issues concerning the change in the concept of the formation and use of the National Fund means with regard to increase in the guaranteed transfers to the republican budget by 15% (KZT180 billion) in 2012-2013 were considered at the meeting of the Kazakh National Fund Management Council held today at Akorda, the Kazakhstan President's press service informs.
The decision to increase the National Fund transfer was made in connection with the need of extra financing of the investment projects set in President's Address to people of Kazakhstan as of January 27, 2012 "Socioeconomic modernization is the main vector of Kazakhstan's development".
The decision to grant a bond loan to KazMunaiGas JSC to the amount of USD 4 billion has been taken to support the Kashagan project.
Following the meeting the Head of State encharged the gathered with certain tasks.