Kazakhstan attracting $1 billion to improve competitiveness of economy

ASTANA. KAZINFORM - Kazakhstan intends to attract a loan of $1 billion from the International Bank for Reconstruction and Development (IBRD is a part of the World Bank Group).

The relevant agreement that was signed Feb. 17 with the IBRD has been ratified by Majlis (lower house of the Kazakh parliament) May 11, Majlis's press service said.

The loan will be used to finance the development policy in macroeconomic management and to increase the competitiveness of Kazakhstan's economy.

The loan will allow to support main priorities of the country's social and economic development and the implementation of strategic measures of the Kazakh government to stimulate the economy and promote economic growth.

Source: Trend.az