Azernews.Az

by Alimat Aliyeva

The Senate of Kazakhstan has ratified two loan agreements with international financial institutions worth a combined $965 million, aimed at supporting the country's budget and economic development, AzerNEWS reports.

The first agreement, signed in Astana on May 20, 2026, was concluded with the International Bank for Reconstruction and Development (IBRD). Under the deal, Kazakhstan will receive a loan of 92.3 billion Japanese yen (approximately $575.9 million) with a repayment period of 11 years, including a five-year grace period.

The second agreement was signed with the Asian Infrastructure Investment Bank (AIIB) as part of the Inclusive and Sustainable Economic Growth Program. It provides Kazakhstan with an additional 62.4 billion Japanese yen (around $389.3 million) on the same terms—an 11-year maturity with a five-year grace period.

According to the Senate, the funds will be used to help finance the 2026 republican budget deficit, ensuring that the government can fully meet its fiscal commitments and continue implementing key social and economic programs.

An interesting fact is that both the IBRD and the AIIB are major international development institutions that regularly finance infrastructure, public sector reforms, and sustainable economic growth projects, helping countries maintain financial stability while investing in long-term development.