Istisna'a Agreement between Kazakh Government and Islamic Development Bank ratified
12:30, 22 October 2009
ASTANA. October 22. KAZINFORM /Muratbek Makulbekov/ The Senate of the Kazakh Parliament has adopted the Law "On ratification of the Istisna'a Agreement between the Kazakh Government and the Islamic Development Bank on reconstruction of "Border of South Kazakhstan region - Taraz" road section within "East Europe - East China" road project and Istisna'a Agent's Agreement between the Kazakh Government and the Islamic Development Bank on reconstruction of "Border of South Kazakhstan region - Taraz" road section within "East Europe - East China" road project".
Kazakh Minister of Transport and Communication Abelgazy Kusainov noted that the Agreement was signed on July 31, 2009 in Astana.
"The main purpose of the Agreement is granting of a loan for financing of the project on reconstruction of 58.1 km long "Border of South Kazakhstan region - Taraz" road section", the Minister said.
A.Kusainov noted that the realization of the project will provide the development of the transport potential of the country and increase the intensity of traffic at the Kazakh part of the transit corridor, promote the cargo turnover growth of transit goods.