Astana, Kazakhstan, April 22
By Daniar Mukhtarov - Trend:
The Kazakh government's meeting approved the provision of state guarantees for the second loan of Asian Development Bank (ADB) to support small and medium businesses in the country.
Kazakh Economy and Budget Planning Minister Yerbolat Dossayev spoke about this during a briefing held at the Central Communications Service for Kazakh President.
He said the loan proceeds totalling 22.5 billion tenges ($150 million) will be placed in the national currency of Kazakhstan.
"ADB's main objective today is to support small and medium businesses," the minister said.
Asian Development Bank was founded in 1966, and its shareholders include 67 member countries.
Kazakhstan joined ADB in 1994. The cooperation between Kazakhstan and ADB is carried out in a number of directions - transport sector, energy industry, improving governance system and developing private sector.
At the same time, Kazakhstan intends to cease being a recipient of technical and gratuitous assistance and become a partner of ADB on assisting the developing countries.
Translated by E.A.
Edited by C.N.