Kazakhstan Development Bank JSC informed about consolidation of cooperation with EBRD

/KASE, March 27, 07/ - Kazakhstan Development Bank (Astana), bonds of which are traded in Kazakhstan stock exchange's (KASE) official "A" listing category, spread a press release, which says: Quotation start Today an international seminar with the participation of Stable development fund Kazyna, Kazakhstan Development Bank, European Bank of Reconstruction and Development took place in Astana. National institutions of development - Investment Fund of Kazakhstan and the National Innovation fund, took part in the seminar as well. The past seminar has become the next stage in the mutually beneficial cooperation of KDB and EBRD, laid in the Memorandum dated June 4, 2007. Issues of activity of the national institutions of development SDF Kazyna, policy of selection and project financing, correlation of project financing procedure and other issues were considered on the meeting. The director of EBRD in Kazakhstan Andre Kuusvek, sees the growing cooperation between SDF Kazyna and EBRD as the natural step forward, since goals of both organizations are substantially congruent. Through the joining of both forces EBRD will bring to joint projects the international perspective and advantages of its wide experience in financing projects in the region. Kazyna, in turn, will bring understanding of development needs of Kazakhstan. At the meeting a high appraisal was given to the joint project of 2004, when KDB and EBRD opened the financing of the first stage of construction of a new PTL-500 kv of the transit SEVER-YUG of KEGOC JSC. The power project showed mutually beneficial cooperation while financing large-scale projects. Short reference: EBRD, organized in 1991 with the purpose of assistance to transition to the market economy of countries of the Central Europe and the former Soviet Union, by this time has invested 43 bn. U.S. dollars since the start of its activity. Total amount of investments, raised in the region, including through commercial co-financing, exceeded 130 bn., having reached 134 bn. U.S. dollars. In Kazakhstan at the end of 2006 EBRD have financed projects with the total cost of 4 bn. U.S. dollars, including financing of EBRD for a amount of 2 bn. U.S. dollars. Quotation end [2007-03-27]