BAKU, Azerbaijan, March 18
By Nargiz Sadikhova - Trend:
Kazakhstan and Asian Development Bank (ADB) will introduce changes to the norms of using policy and rules when attracting loans under the state guarantee, Kazakhstan’s Minister of National Economy Ruslan Dalenov said, Trend reports with reference to Kazakh media.
The corresponding agreement draft has been approved during Kazakhstan’s Majilis (lower house of the parliament) meeting on March 18, 2020.
“The agreement sets norms on use of ADB’s policies and rules when attracting loans under the state guarantee. These are policies and rules on anti-corruption, procurement of goods, works and services, environmental and social protective measures, basic labor standards, payments, information disclosure, gender development,” Dalenov said.
He explained that these rules will allow Kazakhstan to expand instruments of projects’ funding.
He also added that the main goals and areas of cooperation within the agreement are to increase of Kazakhstan’s macroeconomic sustainability, modernization of infrastructure and communal services, support of agriculture development, as well as improvement of access to funding of small and medium business, increase of investments in infrastructure and social areas, such as healthcare and education.
Last year marked the 25th anniversary of Kazakhstan-ADB partnership. This year 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.
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