U.S.A. to allocate USD 4.5 mln under Kazakh-American Economic Development Program

ASTANA. November 8. KAZINFORM /Muratbek Makulbekov/ Draft Law On ratification of the Additional agreement to the Memorandum of mutual understanding between the Government of Kazakhstan and the Government of the United States of America on the Kazakh-American Program on Economic Development as of May 5, 2006 has been discussed today at an enlarged meeting of the Senate's Committee for Economic and Regional Policy under the chairmanship of Nurlygaiym Dzholdasbayeva.

The Kazakh-American Economic Development Program has been realizing on the basis of Houston initiative reached by the Presidents Nursultan Nazarbayev and George Bush in 2002.

The Additional Agreement to the Memorandum aims at extension of its validity up to 3 years, thus for 2010, 2011, 2012. The activities planned to be implemented within the Program are directed on improvement of business climate in the country, development of economic infrastructure of Kazakhstan. They will also positively impact on development of legislative basis of entrepreneurship.

The document aims also at amending the financial part of the Program for 2011-2012. The U.S. Agency for International Development will allocate USD 4.5 mln and Kazakhstan will contribute USD 9 mln.

After the discussion the Committee members decided to submit the bill for the Senate's consideration.