BAKU, Azerbaijan, November 4. Kazakhstan's
Kurultai has adopted, in two readings, a law ratifying a loan
agreement with the Asian Development Bank (ADB) under the Fiscal
Governance and Financial Sector Reforms Program (Subprogram 2),
according to the Kurultai.


The agreement was signed on September 11, 2026.


It provides a 3.4 billion yuan loan (227.4 billion tenge, or
about $500 million) from the ADB, with a 15-year repayment period
and a three-year grace period. The interest rate will be 1.69%, and
the commitment fee will be 0.15% per annum on the undisbursed loan
amount.


The loan will support priority budget expenditures, including
social services, transport infrastructure, industry, education, and
other priority areas.


In June 2026, the ADB approved Subprogram 2 of the Fiscal
Governance and Financial Sector Reforms Program to support
Kazakhstan's efforts to strengthen public finances and enhance the
resilience of its financial sector.


Subprogram 2 focuses on two areas: strengthening fiscal
sustainability, governance, transparency and accountability; and
enhancing banking sector resilience and developing capital
markets.


To strengthen fiscal sustainability, the program supports
improvements to fiscal rules and more effective management of
fiscal savings. It also promotes more efficient budgeting,
planning, and monitoring that take gender and climate
considerations into account.







Policy measures include harmonizing Kazakhstan's legislative
framework for public-private partnerships and improving the quality
of governance and transparency in the use of public funds,
including those of the National Fund of Kazakhstan.


To enhance financial sector resilience, the program strengthens
the regulatory and supervisory framework. It also supports
financial stability by improving crisis preparedness and mechanisms
for the recovery of financial institutions, while promoting lending
and market-based financing.


These measures are expected to expand access to long-term
financing, particularly for micro, small and medium-sized
enterprises.


Kazakhstan was the first country in Central Asia to join the ADB
in 1994. Since then, the bank has supported the country's
development through sovereign and non-sovereign financing,
public-private partnership advisory services, technical assistance
and knowledge solutions.


The ADB's priority areas of operation in Kazakhstan include
budget support, transport, the financial sector and renewable
energy.


The ADB's ongoing operations in Kazakhstan focus on supporting
economic diversification, inclusive development and sustainable
growth. The bank also supports Kazakhstan's active participation in
the Central Asia Regional Economic Cooperation (CAREC) Program.