Kazakhstan Ratifies Deal on $100Mln Loan From World Bank’s IBRD

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Astana golden hour. Kazakhstan - Sputnik International
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The upper house of Kazakhstan’s parliament on Thursday ratified a deal with the World Bank’s International Bank for Reconstruction and Development (IBRD) on a $100-million loan to create more jobs, local media reported.

A high-speed train departs a platform in Hebei province south of Beijing on December 22, 2012 - Sputnik International
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ASTANA (Sputnik) — The funds will be earmarked for an educational and training scheme to reduce jobless rates. The project will run until June 30, 2020, the Novosti Kazakhstan news outlet said.

The scheme is made up of three components – creating a national qualifications system, providing better professional education to improve productivity and assessing results of the employment project.

The International Bank for Reconstruction and Development was set up in 1944 to help Europe rebuild after World War II. Today, it provides loans and other assistance primarily to middle-income countries.

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