Kazakhstan to take AIIB loan to support economy

The Majilis has approved the bill "On ratification of the Loan Agreement between the Republic of Kazakhstan and the Asian Infrastructure Investment Bank'', Kazinform News Agency reports.

Majilis deputy Tatyana Savelyeva stated that the bill was introduced by the Government resolution to the Majilis on October 23, 2024. The loan agreement was signed on August 21, 2024 in Astana.

The AIIB loan is provided to Kazakhstan in the amount of 52.7 billion yen with a repayment period of 15 years, including a grace period until June 1, 2027. The loan is provided to reinforce the country's economic stability,” Tatyana Savelyeva noted.

Recall that the deputies have adopted the bill ''On ratification of the Loan Agreement between the Republic of Kazakhstan and the Asian Development Bank''. The agreement allows ADB to provide Kazakhstan with a loan of 52.3 billion yen for 15 years.