OREANDA-NEWS. December 15, 2014. Senate of the Kazakh Parliament at the plenary session has adopted the Law "On ratification of the Loan Agreement (Second phase of the Project on improvement of the irrigation and drainage systems) between the Republic of Kazakhstan and the International Bank for Reconstruction and Development".

"This project – is PIID-2. PIID-1 with IBRD loan was implemented in nine regions of the country in 1994-1996. This agreement was approved by the Decree of the Head of State and signed by the Minister of Finance on behalf of Kazakh Government on April 29, 2014," Minister of Agriculture Asylzhan Sarybekov said submitting the bill.

According to him, PIID-2 aims to improve the socio-economic and environmental conditions in the basins of transboundary rivers the Syr Darya, the Talas, the Shu and the Ili, covers irrigated lands with a total area of 113 thousand hectares. The cost of the second phase implementation of the project is 339.5 million US dollars, including IBRD loans - 102.9 million dollars, co-financing from the republican budget - 236.6 million dollars. The maturity of the loan is 10 years, starting from 2022 until the completion of the project, that is, grace period is set until 2021.