President Tokayev Signs Loan Deal With IBRD to Boost Kazakhstan’s Digital Economy

Kazakh President Kassym-Jomart Tokayev signed into a law the loan agreement, reached between Kazakhstan and the IBRD under the Digital Acceleration for an Inclusive Economy (DARE) Project for Kazakhstan.

As Zhaslan Madiyev, the Digital Development, Innovation and Aerospace Industry Minister, said, the project aims at bridging the digital divide among urban and rural areas, The Caspian Post reports, citing Kazakh media.

The agreement eyes development of telecommunications infrastructure, that is, building local area networks in rural areas as well as creating conditions for private investments in the sector and supporting small- and medium-sized communication operators.

A total amount of investments is estimated at 84 billion tenge ($159 million), of which up to 50 per cent of capital expenditure will be subsidized through the project, including 42 billion tenge ($79 million) private financing and 42 billion tenge loan from the World Bank.