Senate ratified loan agreement between Kazakhstan and ADB
12:44, 21 April 2011
ASTANA. April 21. KAZINFORM /Serik Sabekov/ Senate of the Kazakh Parliament adopted the Law "On ratification of the loan agreement (Ordinary operations) (Transport Corridor CAREC [sites in the Zhambyl area] [the International transit corridor Western Europe - Western China] the Investment Program - Project 3) between Kazakhstan and the Asian Development Bank (ADB).
The purpose of the agreement is granting of the third tranche loan of USD 173 million. The document was signed on December 15, 2010.
The loan is granted for 19 years. The funds will be pumped into construction of a 98-km-long highway and consultation services on construction supervision.