/IRBIS, 21.07.09/- JCS "Fund of national well-being "Samruk-Kazyna"
(Astana, further - Fund) has published on its website
http://www.samruk-
kazyna.kz the text of Chairman of Fund Board Mr. K.Kelimbetov's presentation at
the Government session of the Republic of Kazakhstan on a course of realization
of anti-crisis program, dated July 21st 2009.
At this presentation it was said that from 1087.5 billion KZT allocated from the
National Fund, 766.8 were used as follows:
- 476 billion KZT are directed for stabilisation of the financial sector;
- 120 billion KZT - mortgage refinancing;
- 23,6 billion KZT - shared-construction problem solving;
- 120 billion KZT - support of small and medium-sized business;
- 27,2 billion KZT - realisation of innovative, industrial and infrastructural
projects.
For stabilisation of financial sector, the state, through the National Fund, has
capitalized system-creating banks, as specified in the presentation. As a result
of the undertaken measures, 75,1 % shares of JCS "BTA Bank Bank", 20,9% of
shares of JCS "National bank of Kazakhstan", 21,2% shares of JCS
"Kazkommertsbank" have been obtained. By the end of the year, it is planned to
finish process of state entrance into JCS "Alliance Bank".
"As you know, Alliance bank has carried on negotiations and signed
Memorandum of mutual understanding with the Committee of creditors. We have
also signed Memorandum of intentions between JCS "Alliance Bank" and
"Samruk-Kazyna", in case of successful re-structuring, to become the
shareholder of the bank. Now, Alliance bank is presenting the corresponding plan
of re-structuring and recapitalisation to the AFN and in the beginning of
September, the bank plans to achieve the final document on re-structuring where
exact conditions of mutual relations with each creditor will be reflected, - is
specified in the presentation text of K.Kelimbetov.
In the presentation text it is specified that today over 90% of liquidity in the
banking system is provided by the state means.
Concerning the work on re-structuring of debts of JCS "BTA Bank", K.Kelimbetov
has informed that on July 23rd of this year there will be the first meeting with
the Committee of Creditors where creditors of the bank are present, as well as
the American Eximbank, RBS, Commertsbank, and others.
[2009-07-21]