Majilis approves ratification of 52.7 bln yen loan agreement with AIIBThe Majilis, the lower chamber of Kazakhstan’s parliament, adopted on Wednesday the Law on the Ratification of a Loan Agreement Between the Republic of Kazakhstan and the Asian Infrastructure Investment Bank (AIIB), an Interfax-Kazakhstan correspondent said."The loan agreement of 52.7 billion Japanese yen was signed on August 21, 2024. The choice of the currency was due to low base interest rates in Japan," Finance Minister Madi Takiyev said.The borrowed funds will allow the government of Kazakhstan to support and finance such priority sectors as transport infrastructure, industrial production and education, he added.The loan facility will be provided to Kazakhstan for 15 years, including a three-year grace period.The Asian Infrastructure Investment Bank (AIIB) is an international financial institution aimed to support financial cooperation in the Asia-Pacific region, to finance infrastructure projects in Asia. (ICE ALMATY)

Fonte notizia: INTERFAX