BTA Bank (Kazakhstan) and National holding KazAgro sign a cooperation agreement

/KASE, March 12, 09/ - BTA Bank (Almaty), a company listed on Kazakhstan Stock Exchange (KASE), issued a statement: Quotation beginning BTA Bank and National holding KazAgro signed a memorandum for purpose of support of agricultural entities within the state program for stabilization of economy and financial system for 2009-2010. According to the signed document the parties plan to jointly establish a scheme for financing of spring on-field and harvest works, and to invest in projects for developing infrastructure of Kazakhstan grain export and production of horticultures using droop irrigation technology. In particular, BTA Bank and National holding KazAgro agreed to provide state funds for financing of the projects through subsidiaries of National holding KazAgro - Food contract corporation JSC and Agricultural credit corporation - under guarantee of commercial banks or grain receipts issued by the companies. In aggregate, KazAgro allocated KZT84 bn. for commercial banks to grant guarantees, of which KZT13 bn. was allocated to BTA Bank. Besides, within the frames of the Memorandum BTA Bank is planning to provide guarantees on obligations of Ivolga Holding, Batt Agro LLP and others. Contact: Adyl Dosymov, BTA Bank Press Secretary 8 (727) 266-47-97 8 707 3457619 e-mail: dosymov@bta.kz Quotation end [2009-03-12]