Kazagrofinance JSC in year 2009 plans to issue eurobonds for $200 m. for financing of projects in APC

/INTERFAX-KAZAKHSTAN, Astana, January 16, 08/ - Kazakhstan state Kazagrofinance JSC on next year intends to issue eurobonds for $200 m. for financing of projects in APC, the chairman of board of the company Ibragim Tatishev announced. "We are planning to invest about KZT5 bn. to further development of APC in this and next years. With this aim next year we are planning to make an accent on issue and offering of eurobonds for amount of 200 m. dollars, increase of credit lines in international financial institutions and offering of bonds on domestic market, if the conjuncture changes to better way", - he told, performing on collegium in the ministry of agriculture on Wednesday in Astana. At that he had noted that in year 2008 the volume of budget financing of the company will make about KZT3.3 bn. (current - 120.42/$1). Along with it the head of Kazagrofinance also announced about need of state support provision to the company. "Many priority projects have to be realized only by account of budget funds, and company needs the state support", - he told. So, by his words, for today company has bids for realization of projects in the sphere of APC for amount more than KZT100 bn. "If such funds will be extracted from republican budget, Kazagrofinance is ready for mastering of these funds", - I.Tagashev concluded. KazAgroFinance provides leasing and credit services in agrarian sector. Sources for operations, conducted by it are budget funds, borrowed from foreign financial institutions and accumulated own funds of the company. Company had started its activity in year 2000. Its sole shareholder is the government of Kazakhstan. Rights of owing and using of state shareholding are given to ministry of agriculture. [2008-01-17]