IBRD to loan $36 million to Kazakhstan to enhance legal system16 july 2014, 03:03
President Nursultan Nazarbayev has endorsed a law on ratification of the agreement on a loan between Kazakhstan and the International Bank for Reconstruction and Development (IBRD), Tengrinews reports citing Novosti-Kazakhstan.
In accordance with the agreement the IBRD provides Kazakhstan a loan of $36 million to finance a project of strengthening the system of justice in the country. The time for repayment is 15 years including 5 years of grace period.
Another $23.9 million for the project will be provided from the country’s budget.
The main goal of the project is to enhance legal system of Kazakhstan through strengthening key elements of the legal and institutional base, improving the quality of services and efficiency of the Ministry of Justice, increasing the efficiency and professionalism of judges, implementing and coordinating projects and research work.
By Gyuzel Kamalova