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ADB to help Kazakhstan in wholesale markets dev-t

Business Materials 4 February 2020 14:22 (UTC +04:00)
ADB to help Kazakhstan in wholesale markets dev-t

BAKU, Azerbaijan, Feb. 4

By Nargiz Sadikhova - Trend:

Asian Development Bank (ADB) will support Kazakhstan in wholesale markets, agro-logistics and wholesale distribution centers development, ADB’s Regional Representative in Kazakhstan Giovanni Capannelli said, Trend reports with reference to the press office of Kazakhstan’s prime minister.

Capannelli talked in details about the project during the government meeting chaired by Kazakhstan’s Prime Minister Askar Mamin.

Capannelli said that ADB has prepared a detailed Master Plan and Roadmap for the development strategy.

“The creation of agricultural wholesale markets and agro-logistics centers will reduce the volatility of prices for grocery products, and farmers will receive a fair share of the trade margin, which, in turn, will allow them to generate more income and reduce post-harvest losses,” he said.

Last year marked the 25th anniversary of Kazakhstan-ADB partnership.

ADB approved three sovereign local currency loans for a total of $517 million-equivalent in transport, finance and agriculture and three non-sovereign loans in support of solar power development and agribusiness for a total amount of $61.5 million in Kazakhstan in 2019.

In 2020, ADB is planning to work on the implementation of ongoing and newly approved sovereign and non-sovereign projects and continue providing advisory support through technical assistance.

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