On May 23, Development Bank of Kazakhstan JSC (hereinafter referred to as DBK, the Bank, a subsidiary of NMH "Baiterek"JSC) held an information and training meeting at which DBK representatives shared their experience in credit analysis and structuring large transactions with representatives of "Damu" Entrepreneurship Development Fund" JSC (hereinafter referred to as "Damu").
The event was attended by Asset Sharipov, Deputy Chairman of the DBK Management Board, Zhanat Ansaganova, Managing Director, and heads of the Bank's key divisions. The "Damu" Entrepreneurship Development Fund" JSC Foundation was represented by Talgat Smagulov, Deputy Chairman of the Management Board, relevant directors and specialists.
As part of the development of new financial instruments and loan guarantee mechanisms, knowledge exchange was aimed at introducing effective practices into activities of "Damu" in terms of structuring large transactions and risk assessment, which is typical for large investment projects.
"DBK and "Damu" have a successful experience of cooperation in terms of the exchange of competencies. Earlier, "Damu" shared with us the experience of providing guarantees in favor of STBs for SME projects, which we applied when developing new DBK guarantee tools. Today we shared our experience with colleagues on deep processing of transactions in large projects. We have a common goal – the realization of 8 trillion tenge by "Baiterek" Holding, including DBK, "Damu" and other subsidiaries. The exchange of experience is extremely important "Damu" Damu provides broad coverage, and DBK provides depth of analysis. In collaboration, this has a powerful effect and develops not only our organizations, but also the country's economy," said Asset Sharipov, Deputy Chairman of the DBK Board.
Representatives of "Damu" studied the key aspects of working with investment projects: from analysis and financial modeling to risk assessment and legal expertise. The meeting participants paid special attention to the structuring of transactions, raw materials and sales markets, as well as practical cases in the field of project financing.
"This meeting is important for us. We have no experience analyzing large infrastructure projects, and this is strategically important for Kazakhstan. Now, within the framework of the Guarantee Fund-2, we strive to support such projects," said Rustam Kasimov, Director of the Guarantee Department of "Damu" Foundation.
