UPDATE 1-Kazakhstan to fund 2016 budget gap with $2 bln ADB, World Bank loans

December 23, 2015 5:52 AM

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ASTANA Dec 23 Kazakhstan plans to borrow a combined $2 billion from the Asian Development Bank (ADB) and the World Bank in order to finance its 2016 state budget deficit, Economy Minister Yerbolat Dosayev told reporters on Wednesday.

The ADB and World Bank will each lend the country $1 billion, the minister said.

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