Bank of Development of Kazakhstan and General bank of development of China sign USD100 m. credit line agreement

/KASE, April 15, 09/ - Bank of Development of Kazakhstan (Astana), bonds of which are listed on Kazakhstan Stock Exchange (KASE), provided KASE with a press release: Quotation beginning On April 15, 2009 in Beijing within the frames of the visit of the head of state N.Nazarbaev to the Chinese People's Republic a credit line agreement was signed between Bank of Development of Kazakhstan and State Bank of Development of Kazakhstan. The document was signed by Kazakhstan development bank president Zhanat Zhakanov, and Chinese development bank vice-president Gao Tzyan. According to the Agreement the State Bank of Development of China will provide the Kazakhstan development bank with USD100 m. for a ten-year term for financing of investment projects in manufacture and infrastructure. The Kazakhstan Development Bank and State Development Bank of China are members of the Inter-bank Union (IU) SCO and cooperate in financing and joint crediting of invest projects. In particular the banks are jointly financing the Moynaksk hydroelectric station construction in Almaty oblast. Earlier the Chinese Bank provided to the Kazakhstan development bank two USD100 m. tranches. Reference: Bank of Development of Kazakhstan was established in 2001. The bank is a structure unit of National wellbeing fund Samruk-Kazyna. The main operation areas of the bank are state investment perfection, infrastructural development of manufacture and processing, aid in attraction of foreign and domestic investment. State Bank of Development of China was established in March 1994. The shareholder of the bank is the Ministry of Finance of China. The main functions are support of industries, infrastructural development and regional growth. Quotation end [2009-04-15]