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Government to allocate more than 700 billion KZT to finance important projects

Astana. August 5. Kazakhstan Today - Kazakhstan government plans to allocate more than 700 billion KZT in the nearest three years to finance important projects. The Minister of Economics and Budgetary Planning, Bahyt Sultanov, informed at the selector government meeting on Monday, the agency reports. "64.6 billion KZT has been allocated in the amended republican budget for 2008 on financing of 6 important projects as contribution of the state. Expenditures at the rate of more 700 billion KZT for the projects requiring state financing have been included in the developed three-year budget," B. Sultanov said. Bank of Development of Kazakhstan has already opened credit lines for 8 important projects. The Eurasian Bank of Development will finance one project and the state has provided guarantee for three projects for the sum of $365 million. "11 more projects of the total cost of $13.1 billion are being carried out with participation of the national companies," he noted. According to the Minister of Economics, 26 projects are at practical realization stage. This year 6 more projects of the total cost of more than $1.4 billion and in 2009 - 4 more projects for a total sum of $1.8 billion are planned to be commissioned.

Resourse: Kazakhstan Today

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