IBRD allocates Kazakhstan $1 billion

The International Bank for Reconstruction and Development (IBRD) has approved a $1 billion loan with an interest rate of 1.5% to finance Kazakhstan's development policy in the macroeconomic management and increasing the economic competitiveness.

Kazakh President Nursultan Nazarbayev has signed the corresponding decree.   The maturity date of the loan is 20 years with a grace period of 2.5 years.