State bank of development intends to refinance 12 infrastructure investment projects

/INTERFAX-KAZAKHSTAN, Astana, January 16, 08/ - State Kazakhstan Bank of Development JSC (KBD) in the frames of realization of plan for provision of stability and social-economic development of republic intends to refinance 12 infrastructure investment projects, is indicated in the message of press-service of prime0minister, distributed on Wednesday by results of session of state commission on questions of modernization of republican economy. "Total sum of refinancing makes about $250 m.", - is noted in the press- release. According to message for refinancing were chosen projects in Aktubinsk, Almaty, Atyrau, East-Kazakhstan, Kostanay, Mangistau, south-Kazakhstan regions. "Acceptance of final decision of state commission about start of financing of indicated projects is expected during the week", - is noted in the message. As it was informed, in October of last year KBD had entered with official suggestion to second tier banks of Kazakhstan (STB) about possibility of refinancing of investment projects of STB. According to spread letter of KBD, term of loan have to make not less than 5 years with sum of loan not less than $5 m. "Loans on suggested projects have to be classified as "standard" with enough level of security", - was stressed in the message. As it was informed, for provision of social-economic stability in the country the government extracts from the budget on returning basis in year 2008 not less than $3 bn. Given funds are directed on security of rights of share construction participants, for continuing of financing of projects of small and middle enterprisers, for financing of perspective investment projects, being important for diversification of economy. KBD was created in year 2001. Since May 2006 banks enters the staff of state Fund for stable development Kazyna JSC, created for improvement of corporate management system of development institutions. KBD executes the selection and crediting of middle and long-term investment projects in production infrastructure and non-feed fields of economy. [2008-01-17]