Regions and Countries

	Table of Contents
p. 17 of 20 BACK | NEXT I. Country Performance Assessment II. Country Operational Strategy III. Sector Strategies IV. Regional Cooperation V. Donor Activities and Aid Coordination VI. Cofinancing and Catalyzing External Resources VII. ADB’s Operational Program VIII. Economic and Sector Work Program IX. Local Cost Financing

Country Assistance Plans - Kazakhstan

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VI. Cofinancing and Catalyzing External Resources

54. ADB will continue to explore cofinancing opportunities in conjunction with the lending program for 2001-2003 to mobilize additional financial resources to Kazakhstan. Given the country’s limited debt service capacity and in line with the external borrowing policy agreed with IMF, official cofinancing (especially concessional and grant cofinancing) will be explored from bilateral and multilateral sources. Although there are presently limited prospects for export credit and commercial cofinancing, ADB will continue to explore such possibilities for commercially viable projects in line with the external borrowing policy.

55. Due to its limited debt service capacity, the Government is pursuing the economic program for 2000-2002, supported by the IMF, to limit its sovereign-guaranteed nonconcessional borrowing (see para. 4). This will affect to some extent ADB’s effort to explore cofinancing opportunities for the country during this period.

56. Despite the constraints in Kazakhstan, ADB will make efforts in exploring cofinancing possibilities during 2001-2003. Some progress has made in this area. EBRD and the European Union have committed to cofinancing the proposed Almaty-Bishkek Regional Road Rehabilitation Project. IDB has showed interest in cofinancing the proposed Rural Household Water Supply Project while EBRD, the European Union, and Germany have expressed interest in confinancing the proposed projects for employment generation.

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