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The Mazhilis approved ratification of the Agreement on a loan between the Republic of Kazakhstan and the International Bank of Reconstruction and Development

Today at plenary session of Mazhilis of Parliament deputies approved draft law of the Republic of Kazakhstan "On Ratification of the Agreement on a Loan between the Republic of Kazakhstan and the International Bank of Reconstruction and Development".

This draft law is developed for implementation of the Framework agreement on partnership signed by the Government of RK with the World Bank Group in May, 2014.

According to the specified agreement it is planned to realize a number of projects together with the international financial organizations, including the Project on development of labor skills and inducing of workplaces which is planned to realize at the expense of a loan of the International Bank of Reconstruction and Development for the sum of 100 million US dollars.

Loan agreement (The project on development of labor skills and inducing of workplaces) between the Republic of Kazakhstan and the International Bank of Reconstruction and Development is approved by the Decree of the President of Kazakhstan dated July 7, 2015 No. 54 and signed by the Minister of Finance of RK dated July 20, 2015.

Project purpose:

- creation of full-fledged National system of qualifications, increase of relevance of technical and professional education, tutoring and programs of the higher education;

- improvement of results in area of employment and labor skills of target beneficiaries, training of highly qualified specialists with the qualification demanded in labor market.

The expected result of implementation of the project is creation of the modern system of qualifications responsive to perspective problems of economic development, considering specifics of hi-tech productions, as well as development of the offer in labor market according to the existing demand that will allow reducing an imbalance between offer and demand in the market.

The project is planned to finish on June 30, 2020.

Adoption of the project will not entail the negative social and economic and legal consequences.

Changed on 9 December, 2015 - 13:08
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