Senate Committee debated bill on Foreign Loans
ASTANA . December 9. KAZINFORM - At a meeting of the Senate committee of the Kazakh Parliament on economic development and entrepreneurship, a bill has been considered on ratification of the additional agreement № 1 to the Loan Agreement between Kazakhstan and the European Bank for Reconstruction and Development, this was reported by the press service of the Senate.
According to the document, the implementation of the agreement (project of Road Corridor South - West (International Transit Corridor "Western Europe - Western China") will contribute to the economic development of the region which will pass through the transport corridor as well as improve the efficiency and reliability of the transport system of the country.
In addition the deputies discussed a bill on ratification of the loan agreement between Kazakhstan and the Asian Development Bank.
The topic of the agreement is a loan being provided to the Republic of Kazakhstan by the Asian Development Bank to finance the reconstruction of the road "Shetpe - Aktau" 170 km long as well as activities for the construction supervision.
The agreement's realization will attract international traffic flows through the territory of Mangistau region and will contribute to the enhancement of infrastructure, increase employment and welfare, and, thus, will have a positive impact on the economy of the region and the country as a whole.
Both documents were forwarded to the Chamber.