On August 28, was signed the Memorandum on basics of partnership between inter-bank association of Shanhgai Cooperation Organization and Eurasian Bank

/KASE, August 29, 08/ - Development Bank of Kazakhstan (Astana), securities of which are traded in Kazakhstan Stock Exchange (KASE) category "A" official list, disseminated today the press release of August 28 where informs on the following: Quotation start Today on the 8th session of the Council of heads of states-members of Shanhgai Cooperation Organization was signed the Memorandum on basics of partnership between inter-bank association (IBA) of Shanhgai Cooperation Organization (SCO) and Eurasian Bank, on behalf of parties the document was signed by Chairman of IBA SCO Counci, Chairman of Eurasian Bank Board of Directors M.Sagindykov and Chairman of Eurasian Bank Board I. Finogenov. The documents main goal is development of the strategic partnership and mutually befecicial long-term and efficient cooperation between parties. Representatives of banks-members of IBA and Development Bank of Kazakhstan (DBK) determined priority cooperation on such areas as organization of joint funding of the mid- and long-term investment projects and export operations, exchange of experience and knowledge through participation of parties in workshops, conferences, business-forums and other events, organized by the Memorandum participants. As emphasized ion his speech Chairman of IBA SCO Counci M.Sagindykov at held on August 26 in Hudjant (Tajikistan) and chaired by Eurasian Bank the 4th session of IBA SCO Council, "cooperation of IBA and DBK will be useful for all SCO countries and will allow solving broader objectives that can not be solved by banks alone". Regerence: The agreement on interbank cooperation between the authorized banks of the SCO member states was signed on October 26, 2005. As of today, the following countries are the member banks of the SCO Interbank Association: Development Bank of Kazakhstan, Development Bank of China, Settlement and Saving Company (Kyrgyz), Vneshekonombank (Russian Federation), National Bank of Tajikistan, and National Bank of International Trade of Uzbekistan. Development Bank of Kazakhstan was established in 2001. Affiliate of the Sustainable Development Fund Kazyna, established to improve the system of development institutions corporate management. DBK funds mid- and long-term investment projects in the production infrastrure and non raw materials branches of the economy. Eurasian Development Bank is the financial institution established by Russia and Kazakhstan in January 2006. The bank was established to assist sustainable development of member states economies, support high economic development pace, extend mutual trade and development of other economic relations forms, incourage direct investments. The main direction of the bank's activities - funding of investment projects on the territory of member states. Quotation end [2008-08-29]