Majilis approved ratification of JICA-RK Government Loan Agreement
15:49, 13 April 2011
ASTANA. April 13. KAZINFORM /Muratbek Makulbekov/ Today at its plenary session the Lower House of the Kazakh Parliament (Majilis) has approved the bill On ratification of the Loan Agreement on the Project of reconstruction of CAREC transport corridor (in Zhambyl region) between the Japan International Cooperation Agency (JICA) and the Government of the Republic of Kazakhstan.
Presenting the bill Minister of Transport and Communications Berik Kamaliyev said that the Japan International Cooperation Agency would provide a JPY 6 mln 361 thousand loan (or USD 68 mln) to Kazakhstan. The Agreement was signed on August 23, 2010 in Tokyo. The loan will be given for the term of 25 years including seven-year grace period. Co-financing from the Kazakh side will not exceed USD 40 mln. The funds from the national budget will be spent for construction works and payment of taxes.