U.S., Kazakhstan reach deal over funds |
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Fri, 04 May 2007 14:16
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NEW YORK (AP) - The United States and Kazakhstan have agreed that $84 million officials believe was diverted by a U.S. businessman to bribe Kazakh officials will be spent on poor children and other programs to benefit the central Asian nation.The money will be released after it is clear there are no other claims against it, U.S. Attorney Michael J. Garcia said in a news release. The funds have been frozen in Swiss bank accounts at the request of the United States.Prosecutors have charged an American businessman with bribery and fraud, alleging that he diverted tens of millions of dollars paid by oil companies for oil and gas rights in Kazakhstan to pay bribes to three senior Kazakh officials.The Kazakh government has not admitted to the allegations.The first fund will benefit poor children, according to the news release. A second will finance a program to improve public financial management, while a third will help provide transparency in the oil, gas and mining industries.The World Bank is providing technical aid to the Kazakh government to improve its public financial management, Garcia said.Copyright 2007 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
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