Kazakhstan details projects to receive World Bank loans

ASTANA, March 4 (Kazinform/APP) : Kazakhstan’s Deputy Prime Minister – National Economy Minister Serik Zhumangarin outlined the projects for which Kazakhstan plans to attract loans from the World Bank, Qazinform News Agency reports.
According to the deputy premier, the funds will be directed toward several infrastructure and economic projects. In particular, $84 million is planned for a project to accelerate digitalization for an inclusive economy in Kazakhstan, with the financing in the form of a government loan.
Another 1.2 trillion tenge is planned for the construction of the Zhezkazgan–Karaganda highway, while $750 million is earmarked for the Beyneu–Shalkar highway. Both projects are expected to create more than 13,000 new jobs. The reduction in travel time could generate an economic effect exceeding 93 billion tenge.
Other planned projects include:
Innovation stimulation project — $75 million
North Aral Sea restoration — $100 million
Improvement of irrigation and drainage systems — $300 million
Railway transport transformation and connectivity project — $850 million
Development of municipal and energy infrastructure — $350 million
Construction of the Kambarata-1 hydropower plant — $500 million
Earlier, Qazinform News Agency reported that the Kazakh Majilis has ratified the Framework Partnership Agreement between Kazakhstan and the International Bank for Reconstruction and Development, the International Finance Corporation, and the Multilateral Investment Guarantee Agency aimed at expanding cooperation.