Islamic Bank of Development to grant to Kazakhstan about 270 million dollar to highways reconstruction

/IRBIS, March 13, 00/ - The Islamic Bank of Development /IBD/ is going to grant to Kazakhstan about 270 million dollar mainly on republican highways modernization. As the Public Relations Department of the Kazakhstan Ministry of Finance have informed on Monday PRIME TASS this arrangement was achieved during visit to Saudi Arabia of Mazhit Esenbaev, the head of the ministry, when the three-years cooperation program of the Ministry of Finance with IBD was discussed. In particular, IBR in the near future is going to grant to Kazakhstan 20 million dollars for Astana-Karaganda motorway reconstruction and in 2000-2001 - 9 million dollars on mail service development. In 2001-2002 IBD plans to grant 170.4 million dollars on the reconstruction of Astana - Borovoe motorway, Atyrau airport /25 million dollars/ and construction of the new road through the Kurday pass /45.4 million dollars/. Besides the minister of the finance of Saudi Arabia has confirmed the earlier announced intention to grant to Kazakhstan 15 million dollars on construction the House of Parliament in Astana. The parties have agreed to accelerate this grant. According to an employee of the Ministry of Finance, the parties have signed the agreement concerning entering of Kazakhstan into Islamic corporation of private sector development that allow to receive the privilege loans for small and average business supporting without the governmental warranties.