Kazakhstan will borrow 52.3 bln yen from Asian Development BankPresident of Kazakhstan Kassym-Jomart Tokayev has signed the Law on the Ratification of the Loan Agreement between the Republic of Kazakhstan and the Asian Development Bank (ADB).The Law has been published by the official mass media.The loan agreement of 52.3 billion Japanese yen or about 175 billion tenge was signed on August 23, 2024. The choice of the currency was due to low base interest rates in Japan, Finance Minister Madi Takiyev said earlier.The loan facility will be provided to Kazakhstan for 15 years, including a three-year grace period. The loan will be serviced and repaid from the government budget.The borrowed funds will allow the government of Kazakhstan to finance the current year's budget deficit, which is estimated at 3.6 trillion tenge, or 2.7% of the country's GDP.Asian Development Bank (ADB), based in Manila, is dedicated to reducing poverty in Asia and the Pacific through inclusive economic growth, environmentally sustainable growth, and regional integration. Established in 1966, it is owned by 68 members- 49 from the region. (ICE ALMATY)

Fonte notizia: INTERFAX