Alliance Bank (Kazakhstan) and Fund of national wellbeing Samruk-Kazyna sign agreement on soft lending for students

/KASE, February 27, 09/ - Alliance Bank (Almaty), a company listed on Kazakhstan Stock Exchange (KASE), provided KASE with a press release: Quotation beginning Today Alliance Bank announced on signing a banking deposit agreement with Fund of national wellbeing Samruk-Kazyna specifying a 15KZT bn. deposit to the bank within the program of soft lending for students. The agreement was signed on behalf of Fund of national wellbeing Samruk-Kazyna by Managing director, a Board member Kayrat Aytekenov, on behalf of the bank - acting Chairman of the Management Board Maksat Kabashev. The soft lending for students program was developed by the Fund of national wellbeing Samruk-Kazyna jointly with the Ministry of Education and the Ministry of Health Care upon order of the State head, voiced at the bureau of political council of national party Nur-Otan. According to a decision of Fund of national wellbeing Samruk-Kazyna, Alliance Bank was selected as bank agent for application of funds granted by the state for implementation of the program. The deposit is placed for 15 years, at that, the term at which the bank must to apply the received funds, is three calendar months from the moment of receipt of the money at a savings account. According to the program, soft lending for education are provided for 15 years at rate not exceeding 9 % APR. Soft lending is aimed at enhancing of availability of higher education for socially vulnerable strata of population. According to the terms of the program, credits for education are meant for students, studying or willing to study in Kazakhstan institutions on the paid basis in technical and medical specialties at full time form of study: The program will cover: - students-orphans and those without parent care; - students-invalids or those with parents-invalids; - students coming from families with many children or without father or mother; - students whose parents reached pension age; - other categories of students as determined by the decision of the Ministry of Health Care of the Republic of Kazakhstan. As was announced by acting Chairman of the Management Board of Alliance Bank Maksat Kabashev, "The soft lending for students program shows the state is striving to help youth coming from socially vulnerable strata receive higher education and find its vocation in life. A socially responsible financial institute, Alliance Bank is completely supporting the initiative and will take an active part in implementation thereof". For further information, please, contact: Public Relations Tel. +7 (727) 259 80 76 E-mail: pr@alb.kz Web site: www.alb.kz Quotation end [2009-02-27]