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Kazakh president ratifies amendments to loan deal with ADB

13 November 2017 [13:34] - TODAY.AZ

By  Trend

Kazakh President Nursultan Nazarbayev has signed a law ratifying the letter-agreement between Kazakhstan and the Asian Development Bank on amendments to the loan agreement, the press service of Akorda (official residence of Kazakh president) said in a statement.

Nazarbayev signed the Law of the Republic of Kazakhstan "On ratification of the Letter of Agreement between the Republic of Kazakhstan and the Asian Development Bank on amendments to the Loan Agreement No. 2967-KAZ (Conventional Transactions) (CAREC Corridor 2 (Mangystau Oblast Section) Investment Program - Project 2) between the Republic Kazakhstan and the Asian Development Bank."

The Law on loan agreement between Kazakhstan and ADB was ratified Dec. 26, 2013 for the reconstruction of the 170-km long Shetpe-Aktau section, following the realization of which, funds were saved.

The government decided to use the savings worth $ 73.7 million for the reconstruction of the neighboring section "Zhetybai - Zhanaozen".

In this regard, a letter-agreement between the Republic of Kazakhstan and ADB was signed June 20, 2017. The project implementation period is 3 years - from 2017 to 2021 years.

URL: http://www.today.az/news/regions/166731.html

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