Kazakhstan is going to borrow $350 million from the Asian Development Bank (ADB) and the Asian Infrastructure Investment Bank (AIIB) to facilitate its national economy to rebound from consequences caused by the COVID-19 pandemic that officially ended on May 5, 2023. In particular, the country’s government wants to spend this money on reforming the system of budget management and the financial sector in Kazakhstan, according to the AIIB website.
The country’s application passed through conceptual evaluation on November 9, 2023. The deal is expected to be approved on December 14, while the loan itself must be closed by the end...