Washington, August 1 (RFE/RL) - The World Bank has approved a loan of nearly $16 million to help Kazakhstan modernize its treasury department by designing, testing and implementing a fully computerized system.
The bank says Kazakhstan has just reclassified its budget to make it meet international standards. It is in the final stages of drafting a new budget system law.
The treasury modernization program will include a series of wide ranging public expenditure management reforms while developing a central treasury, tax, budget and debt management system. The program, which will cost nearly $22 million, will take three and a half years to complete.