Parliament ratified agreement with IBRD on $67 loan for modernization of secondary education

Astana. May 24. KazTAG - Senate deputies have adopted the law "On loan agreement ratification ( project of modernization of secondary education) between the Republic of Kazakhstan and the International Bank of Reconstruction and Development (IBRD)".
"According to the agreement, IBRD will provide a loan to Kazakhstan for modernization of secondary education system, increase of access and equality in education. The project is worth $75 mln, the IBRD loan will make $67 mln, $8 mln will be allocated from the Republican Budget," reads the conclusion of authorized committee of Senate.
The maturity term- 17 years , including 5.5 years privileged period, interest rate- 2.49%.

Photo source: picture from an open source


adimage