Development Bank of Kazakhstan JSC (hereinafter – DBK, Bank) and the China Development Bank (hereinafter – CDB) have concluded a General Loan Agreement. The document was signed on May 18 by the Head of Baiterek National Managing Holding JSC, Chairman of the Board of Directors of DBK Kanat Sharlapayev and President of СDB Tan Jiong within the state visit of the President of the Republic of Kazakhstan Kassym-Jomart Tokayev to China.
The amount of the limit within the agreement is 300 million US dollars.
«In the recent years several loan agreements have been signed between Development Bank of Kazakhstan and the Development Bank of China which support financing a number of important investment projects in Kazakhstan. We highly appreciate this cooperation and hope our joint efforts to develop the economies of the two countries will continue to be effective and mutually beneficial», Kanat Sharlapayev said in his speech.
These funds can be used to finance investment projects in such sectors of Kazakhstan economy as chemical and mining, in the sectors of energy, transport, production of building materials, agriculture and others.
The line is opened in US dollars to finance Kazakhstan investment projects without reference to Chinese content. At the same time, priority will be given to the projects aimed at developing the industrial potential of Kazakhstan, the production of medium and high-grade goods, as well as with a high proportion of Kazakhstan content.
Reference:
Development Bank of Kazakhstan JSC is a national development institute specializing in financing and the development of large-scale infrastructure and industrial facilities in Kazakhstan. The main objectives of the Bank are to improve and increase the efficiency of the state investment activities; development of production infrastructure and manufacturing industry; assistance in attracting foreign and domestic investments in the economy of the country.
The China Development Bank is the largest of three state development banks of China (in addition to the Export—Import Bank of China and the Agricultural Development Bank of China), directly reports to the State Council of the People's Republic of China. The bank is the second largest bond issuer in China after the Ministry of Finance in 2009, accounting for about a quarter of country's yuan bonds and the largest lender in foreign currency
Public Relations Service of Development Bank of Kazakhstan JSC:
Tel.: 8 (7172) 79 26 08
Website: www.kdb.kz
E-mail: pressa@kdb.kz
