Parliament ratifies agreement with Eurasian Development Bank on terms of stay

Kazakhstan Materials 28 December 2006 16:17 (UTC +04:00)

(gazeta.kz) - Deputies of the senate have passed the law ratification of the agreement between the government of the Republic of Kazakhstan and the Eurasian Development Bank (EADB) on the terms of the EABD stay on the territory of Kazakhstan, Kazakhstan Today correspondent reports.

The agreement allowing the Eurasian Development Bank to start activities came into force in June 2006, reports Trend.

"The essence of the agreement is definition of legal terms for the bank's stay on the territory of Kazakhstan for proper activities. The agreement fixes the status of the bank as an international organisation," - Natalia Korzhova, Minister of Finance, explained presenting the document in the parliament.

The Agreement on Foundation of Eurasian Development Bank was inked by Kazakhstan and Russia in Astana on June 17, 2006.

The draft law has been submitted to the President for signing.