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.
