Eurasian Integration Yearbook 2012

2011: Data and ReviewsMoreover, in order to encourage the development of private enterprise in acountry where the public sector accounts for 70% GDP, EBRD issued a loanof $50 million to Belpromstroybank for lending to micro, small and mediumenterprises.In addition, EBRD extended a loan of €50 million to Kronospan FLLC, Belarusto finance construction of a melamine faced particleboard production plant atSmorgon in Grodno region.KazakhstanAsian Development BankADB extended a loan of $95 million for construction of a 65-km road section inZhambyl Oblast between the cities of Taraz and Baipas within the frameworkof the CAREC Transport Corridor-1 Investment Programme. Moreover, ADBsupported the Astana Light Rail Transit Project and provided technical assistancein the amount of $565,000.The World Bank GroupThe IBRD issued the adaptable programme loan of $22.81 million forKazakhstan’s Statistics Agency to improve the efficiency and effectiveness ofthe national statistical system to provide relevant, timely and reliable data inline with internationally accepted methodology and best practices.IFC provided a long-term local currency loan of $25 million to refinance theexisting short-term obligations, improve the current debt structure and helpcloser match the structure of assets and liabilities of JSC Kazpost.Moreover, in late August, IFC signed an agreement with the National Bankof Kazakhstan to expand IFC’s capacity to provide local currency loans tocompanies operating in Kazakhstan and support growth of the country’s privatesector.Eurasian Development BankDuring the period under review, the EDB invested in six new projects andincreased its financial support for the previously approved project in Kazakhstan.The total EDB commitments in Kazakhstan stood at $355 million equivalent in2011.The EDB signed a $50 million loan agreement with Ivolga-Holding LLC to fundpurchases of fertilizers, chemical defense equipment, fuels and lubricants andother goods and services necessary for sowing and harvesting campaigns.Moreover, the EDB provided financing for KazExportAstyk Holding’s programmeto optimise its balance sheet in the amount of $35.2 million.330 EDB Eurasian Integration Yearbook 2012