The International Bank for Reconstruction lends 345 million euros to Kazakhstan. The parliament approved the draft law "On the ratification of the loan agreement between the Republic of Kazakhstan and the International Bank for Reconstruction and Development", "Adyrna" reports.
"In July of this year, the loan agreement of 345.7 million euros was signed on August 24. The loan will be directed entirely to finance the budget deficit. The funds allow to support general budget expenditures, including funds for social and other priority purposes provided for in the republican budget," Zhamaubayev said at the meeting.
According to him, the World Bank loan is given to Kazakhstan with a grace period of 2.5 years and a repayment period of 11.5 years.
The interest rate is Euribor+variable spread, the one-time fee is 0.25% of the loan amount, and the reserve fee is 0.25% per annum of the unused balance of loan funds.
It should be noted that the money will be distributed in the form of a single tranche after the loan agreement enters into force.
