Development Bank of Kazakhstan JSC and Russian State Corparation Bank for Developement and Foreign Economic Affairs come to Agreement

/KASE, May 23, 08/ - Development Bank of Kazakhstan JSC (Astana), securities of which are traded in the official list of Kazakhstan Stock Exchange (KASE) of category "A", provided KASE with the press release as follows: Quotation start Within the frameworks of the first state visit of the President of the Russian Federation D. Medvedev to our country, Development Bank of Kazakhstan JSC (further - DBK) and Russian State Corporation Bank for Development and Foreign Economic Affairs (further - Vnesheconombank) concluded an Agreement on intent of provision of a long-term credit line. The agreement was signed by the Chairman of the Board of Directors of DBK Mukan Sagindykov and the Chairman of Vnesheconombank Vladimir Dmitriev. In accordance with the signed document Vnesheconombank intends to provide a credit line for the amount up to USD300 m. for the term of 15 years. This credit line will be used for financing of joint projects of Russian and Kazakhstan companies, implemented in the Republic of Kazakhstan, and will allow for implementing projects, aimed at integration of economics of the Russain Federation and the Republic of Kazakhstan. Note: Russian State Corporation Bank for Development and Foreign Economic Affairs (Vnesheconombank) is a specialized state financial institution, well- known to the world business community and one of the oldest Russian banks. VEB has vast international links and first-rate bank reputation. DBK was established in 2001. The bank is a part of the state holding Fund of Sustainable Development Kazyna. The bank was established to improve the system of corporate management of development insitutions. DBK grants credits for mid-term and long-term investment projects in industrial infrastructure and non-primary economics branches. Quotation end [2008-05-23]