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Kazakhstan: World Bank Negotiating Loans

Washington, 27 June 1997 (RFE/RL) - The World Bank's resident representative in Almaty says the bank is negotiating a number of proposed loans with Kazakhstan. They include a $230 million credit to help the country implement its economic reform and restructuring program over the next three years.

Bank officials in Washington say the loan is scheduled to be taken up by the Board of Executive Directors for final approval in mid-August.

Resident representative David Pearce told a press conference in Almaty that, when approved, the loan will be the 14th from the bank to Kazakhstan and bring the bank's commitment to $1.2 billion.

Several other loans continue to be discussed by the bank with Kazakhstan, including $10 million for a long-delayed legal reform program and a project to support privatization of agriculture. The amount and scope of that proposed loan are still being discussed.