Majilis of the Parliament of Kazakhstan ratified the Loan Agreement with ADB

/IRBIS, February 17, 2010/ - Majilis of the Parliament of the Republic of Kazakhstan today approved a bill on the ratification of the Loan Agreement between the Republic of Kazakhstan and the Asian Development Bank (ADB) for the reconstruction of the road Western Europe - Western China in the Zhambyl region. The aim is to raise the loan agreement for the project on reconstruction and development of road networks and renovation of the road maintenance service. Under the agreement, ADB provided a loan of $187 million term loan repayment - 25 years, including a five-year grace period. Rate - LIBOR +02% for each interest period. Commitment fee will be charged at a rate of 0.15%. As noted in the conclusion of the Majilis Committee on Foreign Affairs, co- financing of the Government of the Republic of Kazakhstan will not exceed $33 million the Republican budget will be directed to co-financing of the construction works, as well as payment of taxes. This Agreement was signed on December 2009 in Astana. Co-financing of the Government of Kazakhstan will not exceed $33 million, - stated in the conclusion of the Committee. [2010-02-17]