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China, Kazakhstan reach preliminary consensus on $18b infrastructure deal

Updated: Dec 15,2014 11:56 PM     Xinhua

ASTANA — Premier Li Keqiang and his Kazakh counterpart Karim Masimov on Dec 15 reached preliminary consensus on a capacity cooperation framework agreement worth $18 billion.

The consensus was reached during a breakfast meeting between Li and Masimov on the second day of Li’s official visit to the Central Asian country.

The framework agreement, covering infrastructure, highway and housing construction, is believed to help deepen China-Kazakh cooperation and forge new growth points in their practical cooperation.

According to preliminary planning, the funding of the project will come mostly from Kazakhstan and international organizations, while the rest will be loans from China.

Li wrapped up his Kazakhstan trip late on Dec 15 after meeting with Kazakh President Nursultan Nazarbayev and attending the 13th prime ministers’ meeting of the Shanghai Cooperation Organization.

Kazakhstan is the first leg of Li’s three-nation tour, which will also take him to Serbia and Thailand.

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