AKIPRESS.COM - Mazhilis, the lower house of the parliament of Kazakhstan, has ratified Wednesday a loan agreement between Kazakhstan and the International Bank for Reconstruction and Development for financing the project on development of personnel and creation of new work places.

IBRD allocates $100 million in loans.

The agreement was signed in Astana on July 20 for 19 years with preferential interest rates of 5-year period.

The purpose of the project is to improve the results in the sphere of employment and occupational skills of the target audience and increase the relevance of technical, vocational, and higher education.