The sole shareholder of Kazakhstan Bank of Development JSC approved the engaging of EBRD as the strategic partner

/KASE, July 30, 07/ - Kazakhstan Bank of Development JSC (Astana), securities of which are traded in Kazakhstan stock exchange's (KASE) category "A" official list had provided KASE with extract from protocol of meeting of Board of Fund for stable development Kazyna JSC (Astana), being the sole shareholder of the bank, which had taken place on July 17, 2007. According to the provided document the sole shareholder of the bank approved the engaging of European Bank of Reconstruction and Development (EBRD) as strategic partner with objectives of realization the Strategy of industrial-innovative development of Republic of Kazakhstan for years 2003-2015. The directions for cooperation with EBRD are: - studying of experience of EBRD for increasing the transparence of activity, market orientation of state development institutions, and also in the field of privatization of state development institutions; - engaging of highly professional foreign managers, also for participation in bodies of corporate management as independent directors; - engaging of EBRD as investor by participation in authorized capitals of national development institutions. [2007-07-30]