Kazakh president ratifies amendments to loan deal with ADB
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
on December 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.
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