Kazakhstan to fund 2016 budget gap with $2 billion in ADB and World Bank loans
Posted on January 07, 2016 by KazCham
Colibri Law Firm
Kazakhstan plans to borrow $1 billion each from the Asian Development Bank (ADB) and the World Bank in order to finance its 2016 state budget deficit.
Kazakhstan’s parliament passed the budget last month, with an estimated deficit of 723.4 billion tenge ($2.2 billion).
