American Eximbank is interested in projects on railways restructuring in Kazakhstan

/Kazakhstan today, October 21, 03/ - American Eximbank is interested in projects on railways restructuring in Kazakhstan. This was discussed during the meeting between Danial Akhmetov, the prime minister of Kazakhstan, and Phillip Merrill, the president of Export-Import Bank of the USA that took place today, on October 21 in Astana, as press service of the head of Kazakhstan Government informs. According to announcement, during the meeting P.Merrill informed D.Akhmetov about intentions of the bank to intensify its activities in Kazakhstan. At the same the cooperation development is supposed to be focused on industries unrelated to oil and gas. In particular, the question is about participation of one of the leading US banks in projects on Kazakhstan railways restructuring. "This is very large country and the restructuring of railways is a key factor", - P.Merril said. At present time the scheme of financing by Eximbank a purchase of several locomotives by the National Company Kazakhstan Temir Zholy CJSC is being developed. The Prime Minister noted that a creation of a leasing company could be more attractive. "We are in favor of leasing scheme", D. Akmetov stressed. Speaking about development of lease agreements in Kazakhstan, the Prime Minister draw the attention of the head of Eximbank USA at current need of a country to replace outdated agricultural machinery with new one. In this field leasing usage is advantageous as well, the announcement says. Commenting on perspectives of Eximbank's participation in realization of projects in Kazakhstan, P.Merrill highlighted the presence of stable banking sector and stable government. Eximbank has been already working in Kazakhstan sector of telecommunications as well as with small agricultural companies. In conclusion, D.Akhmetov said that Eximbank's opportunities and conditions created in Kazakhstan are "good potential for potentially good job". [2003-10-21]