Kazakhstan, Astana, June 26/ Trend , K.Konirova /
The Senate of the Parliament of Kazakhstan has ratified a loan agreement between the Republic of Kazakhstan and the International Bank for Reconstruction and Development to finance the project on reconstruction of Western Europe - Western China international transit corridor, signed on 13 June 2009.
Currently, the Ministry of Transport and Communications works to choose contractor companies under the rules of the bank, said in the ministry.
The implementation of the Western Europe - Western China project will ensure the development of the transport capacity of the country, significantly increasing the intensity of traffic on the Kazakh part of the international corridor and, consequently, increasing the turnover of goods in transit, will significantly increase the revenue part of budgets at all levels in Kazakhstan.
International Bank for Reconstruction and Development provides loan in the total amount of $2 125 million, which is the largest loans in the history of the bank, and Kazakhstan.
The term of loan is 25 years, including a grace period of five years. Servicing and repayment of the loan will be made by the Ministry of Finance of Kazakhstan from the public budget in accordance with the financial conditions stipulated in the loan agreement.
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