Kazakhstan ratified agreement on allocation of $100 million assistance to Kyrgyzstan for integration into EEU

Almaty. July 5. Silkroadnews – President of Kazakhstan Nursultan Nazarbayev signed the law on ratification of the agreement for allocation of $100 million to Kyrgyzstan for integration into the EEU, KazTAG reported with reference to the press service of the President of the Republic of Kazakhstan.
“The head of the state signed the law of the Republic of Kazakhstan “On ratification of the agreement between the Government of the Republic of Kazakhstan and the Government of the Kyrgyz Republic on development of economic cooperation under the Eurasian economic integration”, the statement reads on Akorda site on Wednesday.
To contribute to the Kyrgyz Republic’s integration into the Eurasian Economic Union Kazakhstan is expected to render a $100 million equivalent assistance to implement the activities as provided by the road maps through the services, equipment, goods, training, funds in accordance with separate protocols on technical assistance between the parties.
The procedure for assistance provision, as well as a mechanism for its realization monitoring will be determined by a separate protocol.
In general, the mechanism for aid allocation looks as following: to form the next tranche of assistance, the Kyrgyz side provides a list of activities planned, as well as a conclusion on documents confirming assistance provision feasibility. In its turn, the Kazakhstani side checks the documents received for their expediency and compliance with the Road Maps activities, and in case of a positive decision, agrees on cost estimate to be then approved by the protocol on technical assistance.
To monitor the targeted and effective use of the assistance provided, a joint bilateral audit commission will be established within the Kazakhstani-Kyrgyz intergovernmental council.
The agreement between two states’ governments on development of economic cooperation under the Eurasian economic integration was made in St. Petersburg on December 26, 2016.