Kazakhstan is preparing to borrow about T366 billion from Asian banks amid budget deficit

Astana. November 13. KazTAG – Kazakhstan is preparing to borrow about T366 billion from the Asian Development Bank (ADB) and the Asian Infrastructure Investment Bank amid a budget deficit.
“The ADB loan is provided to Kazakhstan for 52.3 billion yen (52,335,274,722 yen) with a repayment period of 15 years, including a grace period until June 1, 2027,” deputy Tatyana Savelyeva said at a meeting of the Majilis.
According to her, “the loan funds are being attracted to maintain the stability of the country's economy within the approved amount of the republican budget deficit for the planning period.”
"The loan from the Asian Infrastructure Investment Bank is provided to Kazakhstan in the amount of 52.7 billion yen (52,740,000,000 yen) with a repayment period of 15 years, including a grace period until June 1, 2027. The loan funds are also attracted to maintain the stability of the country's economy within the approved size of the republican budget deficit for the planning period," Savelyeva added.

Photo source: picture from an open source


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