Kazakhstan’s $2.7 Billion Offer Lures International Lenders - Bloomberg:
"Kazakhstan is providing 500 billion tenge ($2.7 billion) tapped from its oil fund to attract co-financing from international lenders for an economic overhaul.
The European Bank for Reconstruction and Development today joined the Asian Development Bank and the World Bank in signing an agreement in the capital, Astana, with the Kazakh government allowing them access to state funds to co-finance projects that promote industry, diversification and competitiveness, according to a statement issued today.
Kazakhstan, the largest energy producer in the former Soviet Union after Russia, devalued it currency by 19 percent in February, a move that President Nursultan Nazarbayev called an instrument for economic growth. Nazarbayev, who has ruled the country of 17 million people since 1989, later ordered the oil fund to lend 1 trillion tenge to businesses through 2015."
'via Blog this'
No comments:
Post a Comment