Mazhilis deputies ratified agreements on loans from two international banks. This was reported by Qazaqyia.kz citing Sputnik Kazakhstan.
The loan from the International Bank for Reconstruction and Development amounts to 92.3 billion yen (currently 276.9 billion tenge). The second loan will be obtained from the Asian Infrastructure Investment Bank in the amount of 62.3 billion yen (currently 186.9 billion tenge). This loan has a 5-year grace period and must be repaid within 11 years.
The government plans to use these funds to finance the republican budget deficit and implement a set of measures to maintain the stability of the socio-economic situation. The interest rate on the international loan is set as TONA (Tokyo Overnight Average Rate) + a variable spread. A one-time commission is 0.25% of the loan amount. The commitment fee is charged at 0.25% per annum on the undisbursed balance of the loan.