EBRD to buy 20% shares of OJSC "Demir Kazakhstan Bank"

/IRBIS, July 13, 00/ - As the representative of OJSC "Demir Kazakhstan Bank" (Almaty) informed IRBIS, the Board of directors of the European bank for reconstruction and development (EBRD) made a decision to buy 20% shares of OSJC "Demir Kazakhstan Bank" (DKB). The statement was made by the official of DKB at a regular meeting held on June 28, 2000. The deal is to increase the equity of OSJC "Demir Kazakhstan Bank" by 18 mln U.S. dollars. Presently, the agreement on share purchase is under development and will be finalized within two months. IRBIS informed before that a month ago EBRD opened 3.5 mln U.S. dollar credit line to DKB to finance the trade.