Kazakhstan plans to borrow 84.9 billion yen from the International Bank for Reconstruction and Development (IBRD) to cover the budget deficit and maintain economic stability. This issue has been submitted for consideration by the Mazhilis, as reported by a correspondent from the business information center Kapital.kz.
“The agreement was signed in Astana on October 11, 2024. The loan is being provided to the Republic of Kazakhstan in the amount of 84.9 billion yen, with a repayment period of 11 years. These funds are aimed at supporting the resilience of the economy within the approved budget deficit for the planned period,” stated Deputy Tatyana Savelyeva during the plenary session of the Mazhilis.
It is worth noting that at the previous session, the Mazhilis also reviewed two documents that provide for loans of 52.3 billion yen from the Asian Development Bank and 52.7 billion yen from the Asian Infrastructure Investment Bank. These funds will also be directed towards maintaining the economic stability of the country.