Kazakhstan to borrow 46 billion: senate ratifies agreement

Tengrinews.kz – The Senate, at a plenary session, approved the ratification of an agreement between Kazakhstan and the International Bank for Reconstruction and Development (IBRD) for a loan amounting to 46 billion tenge.

Purpose of the funds

The loan will support the project “Accelerated Digitalization for an Inclusive Economy of Kazakhstan”, aimed at developing a sustainable digital infrastructure and ensuring access to high-speed internet for rural residents.

Key objectives include:

• Connecting villages to the internet to reduce the digital gap between urban and rural areas;
• Supporting small and medium-sized businesses, remote services, and regional investments;
• Developing telecom infrastructure through public-private partnerships.

According to project developers, implementation of the agreement will stimulate technological growth and boost regional economies. It is noted that the project will not require additional funding from the national budget and will not cause negative socio-economic impacts.

The International Bank for Reconstruction and Development (IBRD) is the main lending institution of the World Bank, a specialized UN agency and intergovernmental investment institution established alongside the International Monetary Fund in 1944.