Kazakhstan TV. Japan grants a loan for $70 million for the Project “Western Europe – Western China”

 

    Japan and Kazakhstan signed an agreement in the form exchange of notes between the governments of the two countries during the working visit of the Minister for Foreign Affairs of Japan Mr. Katsui Okada to Astana on Tuesday on the utilization of loan for realization of Transit Corridor Reconstruction (CAREC) Projec in Zhambyl oblast.

 

    Nurlan Ermekbayev, Vice-Minister of Foreign Affairs, from Kazakhstan’s part, and extraordinary and plenipotentiary Ambassador of Japan in Kazakhstan Natsui Sigeo, signed that agreement. The loan, granted by the Japanese Agency of International Cooperation, has been intended for Road reconstruction Transit Corridor “Western Europe – Western China” in Zhambyl oblast with the length of 20 kilometers at the segment Taraz – Kordai.

 

    As the Press-Service of the Ministry for Foreign Affairs of Kazakhstan specified, the amount of loan is 6.3 billion Japanese yen (about 70 million dollars). The loan has been granted to the Republic of Kazakhstan at the rate of 1.7% for 25 years, including seven-year promotional period of service. Press-Release of the Ministry for Foreign Affairs indicates: “Service and repayment of the utilized loan will be realized by the Ministry of Finance against funds, provided in the Law on Republican Budget for the next fiscal year in accordance with the financial conditions, stipulated in the agreement for loan”.