Kazakhstan to borrow over 1.5 billion euros for COVID-19 response efforts

AKIPRESS.COM - Lower house of Kazakh parliament, the Mazhilis, passed an agreement on 1.5 billion euros loan between Kazakhstan and Asian financial institutions.
The loan will support the government of Kazakhstan in COVID-19 response and economic recovery, Sputnik Kazakhstan reports.
Finance Minister Yerulan Zhamaubaev said that Kazakhstan signed a loan agreement with the Asian Bank for Infrastructure Investments for 661 800 000 euros. The funds will finance the budget deficit in 2021.
Additionally, Kazakhstan signed agreement with the Asian Development Bank on 908 596 000 euros loan. This money will also be used to finance the 2021 budget deficit. The loan will support the government's response to the COVID-19 pandemic and economic recovery.