ADB Aids Kazakhstan, Mongolia

has secured a $500 million loan from the Asian Development Bank to help the Central Asian nation deal with the effects of the global recession. The sum, which is drawn from the bank's $3 billion countercyclical support facility, will back fiscal stimulus and crisis mitigation measures. The regional lender is also granting $2.4 million to assist

in providing reliable electricity services to low-income communities in rural areas. The project seeks to construct transmission and distribution lines in nine selected bag centers by February 2011.

About the author

  • Ma. Rizza Leonzon

    As a former staff writer, Rizza focused mainly on business coverage, including key donors such as the Asian Development Bank and AusAID.