Report
to the draft Law of the Republic of Kazakhstan
“On ratification of the Partnership Framework Agreement
(amendments and additions to the Framework Agreement on Partnership between the Government of the Republic of Kazakhstan and the Asian Development Bank on strengthening cooperation for economic diversification, sustainable development and comprehensive growth of the Republic of Kazakhstan, dated May 4, 2014) "
Dear Nurlan Zairullaevich!
Dear deputies!
A draft law is being submitted for your consideration.
on ratification of the Framework Partnership Agreement between the Government of the Republic of Kazakhstan and the Asian Development Bank, committed in the city of Nur-Sultan on August 27, 2019.
The agreement establishes standards for applying ADB policies and rules when raising loans under a state guarantee. These are policies and rules on anti-corruption, procurement of goods, works and services, environmental and social protective measures, basic labor standards, payments, information disclosure, gender development.
Distribution of these conditions on loans under the state guarantee will allow expanding project financing tools.
According to the Agreement, the main goals and directions of cooperation are to increase the macroeconomic stability of Kazakhstan, modernize infrastructure and utilities, assist in the development of the agricultural sector, improve access to finance for small and medium-sized businesses, increase investment in infrastructure and social sectors such as health and education.
ADB activities contribute to the development of Kazakhstan's economy by creating jobs, stimulating innovation, building capacity, providing a wide range of support based on knowledge and introducing international best practices.
Ratification of the Agreement will not entail negative socio-economic and legal consequences, and also does not require additional allocation of funds from the republican budget.
Please support!
Thank you for the attention!