French Development Agency Grants EUR 4 Million in Aid to Kazakhstan

The Kazakh Senate ratified an agreement between the governments of Kazakhstan and France regarding the operation of the French Development Agency Group (AFD) in Kazakhstan, The Caspian Post reports citing Kazinform News Agency.

According to deputy Bibigul Zheksenbai, the agreement between the Governments of Kazakhstan and France on the functioning of the French Development Agency Group (AFD) in Kazakhstan was concluded following the official visit of President of France Emmanuel Macron to Kazakhstan last November to expand economic and financial cooperation between the two Governments.

The agreement establishes the rules for the functioning of the AFD Group in Kazakhstan and defines legal, tax, and financial conditions applicable to its status and activities.

The AFD Group is entitled to extend funds in Euro, US dollars, or other currencies and provide various forms of financial or technical assistance in accordance with its status as well as consulting services or technical assistance services and training state and private entities.

The AFD will support a credit line for women’s entrepreneurship through grants and technical assistance. As of now the AFD plans to allocate 945,000 Euro for healthcare, 1.3 million Euro to Lake Balkhash projects, and 2.4 million Euro in grants for educational events at schools of the Aral Sea basin region.