EBRD may become the minority shareholder of state funds Kazyna, supposes the head of Kazakhstan holding

/INTERFAX-KAZAKHSTAN, Almaty, August 1, 07/ - Head of Kazakhstan state fund Kazyna Kayrat Kelimbetov did not exclude the opportunity that in future European bank for reconstruction and development (EBRD) will enter the staff of shareholders of the fund. "There is the preliminary agreement that if the experience of joint corporalization in the institutions of development will be successful, than maybe we will continue the negotiations that EBRD should examine the ability to become the minority shareholder in holding Kazyna", - K.Kelimbetov told on the press-conference in Almaty. As it was informed, board of state fund Kazyna approved the attraction of EBRD as its strategic partner, at that one of directions of cooperation was determined the attraction of this international financial organization as investor by participation in authorized capitals of national development institutions. By information of K.Kelimbetov currently state fund and EBRD are only negotiating. "Now we are still in process of negotiations. In particular we are discussing the ability of entering of EBRD to staff of shareholders of our development institutions. By us were offered for examination such abilities as to become the minority shareholder in Investment fund of Kazakhstan, Kazakhstan bank of development and Fund for development of small business, because in these spheres EBRD have very large experience, very big international practice", - he told. "I think that we'll have the view of EBRD concerning the decisions till the end of this year", - he told. "We had agreed upon that in September we will sing the general agreement about cooperation about work start in this direction. We also had negotiated that both sides have an opportunity to continue the work or to interrupt it", - the head of state fund told. "Our preliminary view is that - we would like to suggest not less than 25% shares in each from these development institutions", - K.Kelimbetov had noted. He also had noted that these plans are caused by strive to "show the clarity and openness of structures inside of Kazyna, to improve corporate management and also with objective of widening the financial abilities. By his information, till the end of year is planning to conduct the due diligence of development institutions. State fund Kazyna, crated in March 2006 is the managing company, created with the objective of diversification of Kazakhstan economy by coordination of activity of national development institutions within the frames of strategy of industrial-innovative development of Kazakhstan, planned for the period till year 2015. Currently in the staff of the fund are 7 development intuitions of Kazakhstan: state bank of development, investment and innovation funds, state corporation for insurance of export credits and investments, fund for development of small business, center of marketing-analytical researches (CMAR) and Kazinvest company. [2007-08-02]