Development Bank of Kazakhstan signs $300 m. credit agreement with Vnesheconombank (Russia)

/KASE, September 23, 08/ - Development Bank of Kazakhstan (Astana), securities of which are traded in the official list of Kazakhstan Stock Exchange (KASE) provided KASE with the press release: Quotation start Today, September 22, within the frameworks of the Fifth Forum on Near-Border Cooperation with participation of Kazakhstan President Nursultan Nazarbaev and Russia President Dmitry Medvedev, Development Bank of Kazakhstan (further - DBK) and Russian state corporation Bank for Development and Foreign Economic Affairs (Vhesheconombank) signed an agreement on general conditions of credit line opening. On behalf of the parties the agreement was signed by the Chairman of the Board of Directors of DBK Mukan Sagyndykov and Chairman of Vnesheconombank Vladimir Dmirtriev. A $300 m. credit line with an up to 15 year maturity term is aimed at implementation of joint projects in Kazakhstan in industrial production export and Russian enterprizes' services. The decisions on financing of each project will be made jointly by the parties. This Agreement is a result of interaction of the two financial institutions within the frames of Interbank Union on Shanghai Cooperaiton Organization (IU SCO). Quotation end [2008-09-23]