/KASE, April 26, 11/ - Eurasian Development Bank, whose bonds are officially listed on Kazakhstan Stock Exchange (KASE), has provided KASE with the following press-release of April 25, 2011:

quote

Eurasian Development Bank (EDB) signed today a framework agreement on a revolving credit facility for Belarusian Bank for Reconstruction and Development Belinvestbank intended for financing of export-import trading operations of customers of this Belarusian bank.

The agreement fixes indicative terms of financing: the term - 2 years, the credit facility's amount - USD20 m. The financing will be based on separate agreements on individual tranches for the term of 3 to 12 months.

The agreement is designed to extend Belinvestbank's outside funding sources for customers engaged in international trading. In addition it should help expand mutual trading between EDB-member countries thus deepening integration processes. 80% of the funds are going to be used for financing of Belarus' trading with other EDB-member countries. "We see trade finance as an effective tool for development of mutual trade and a means for expanding of EDB's product range, - says Dmitriy Krasilnikov, member of the EDB Management Board, Managing Director for Corporate Finance. - Financing of export-import operations has benign impact on development of corporate and partnership relations between EDB-member countries, which in turn, creates prerequisites for establishing of joint-ventures".

The project with Belinvestbank is carried out under the "EDB Programme of Development of Trade Finance Instruments and Expanding of Mutual Trade between EDB-member countries" endorsed in May 2010. Its participants are BPS-Bank, Belgasprombank - in Belarus, LOKO-Bank, Ak Bars and Bank Sankt-Peterburg in Russia.

unquote

[2011-04-26]