Within the framework of the Kazakh-German Business Forum held in Astana during the official visit of German Federal Chancellor Olaf Scholz, Development Bank of Kazakhstan JSC (a subsidiary of "Baiterek" Holding) signed three key documents with leading German financial institutions: Deutsche Bank, Landesbank Baden-Württemberg (LBBW) and KFW IPEX Bank.
The first of the signed documents is a letter of mandate from Deutsche Bank in the amount of up to 200 million US dollars aimed at financing investment projects in Kazakhstan.
Together with the letter of mandate, the DBK concluded two framework agreements: with LBBW for 100 million euros to finance export transactions with the support of credit agencies and with KFW IPEX Bank for 100 million euros, which will be aimed at supporting infrastructure and industrial projects in Kazakhstan.
"The signing of agreements with German companies demonstrates a high degree of confidence of international investors in the investment climate of Kazakhstan and in the DBK as a key development institution. Attracting investments will allow developing key sectors of the economy, including infrastructure and industry, which, in turn, will create additional jobs and strengthen the country's export potential", said Marat Yelibayev, head of the DBK.
The concluded agreements open up new prospects for the development of key sectors of the economy of Kazakhstan. Partnership with Germany, one of the world's leading economies, helps attract foreign investment to Kazakhstan, which corresponds to the strategic objectives of the DBK to support priority sectors and long-term development of the country's economy.
