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Kazakhstan: Pension Reform Adjustment Project
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LOAN AMOUNT: IBRD-US$300 million
PROJECT DESCRIPTION: This project will support the development of pension reform in four areas:
- Macroeconomic stability and structural reform;
- Social protection and public information;
- Governmental management and operations; and
- Legal and regulatory framework and related institutions.
The loan will support the government’s efforts to finance the transition to a fully-funded pension system by financing part of the estimated 1.7 percent of GDP fiscal deficit brought about by pension reform. The move to a funded system will continue the transition to a market economy by encouraging savings, creating an attitude of self-reliance among the population, reducing the public sector, and deepening capital markets. For more information, please call Marjorie Robertson at (202) 458-8408, fax at 522-3362, or e-mail [email protected]. |
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