Eurasian Bank of Development grants KZT2.7 bn loan to Holding KAZEXPORTASTYK (Kazakhstan)

/KASE, September 2, 09/ - Eurasian Bank of Development, bonds of which are listed on the special trading floor of the Regional Financial Center of Almaty, provided Kazakhstan Stock Exchange (KASE) with a press release: Quotation beginning Eurasian Bank of Development (EABD) is financing an agricultural infrastructure project to increase grain production and export. The bank provided KZT2.7 bn to Holding KAZEXPORTASTYK. Funds will be used to acquire a flour mill combine in Akmola oblast and bring it to full production capacity fitting it with modern grain and rape processing equipment. The project is complying with the EABD strategy. And will boost development of the enterprise. The project is contributing to sustainable economical growth and development of Kazakhstan agriculture through increase of output and export, processing grain with large added value, and creating jobs. The project will facilitate expansion of bilateral trade between Kazakhstan and Russia, as a huge portion of the flour produced by the combine will be sold to Russian consumers. In December 2008 EABD provided USD18.9 m for a similar project of KAZEXPORTASTYK in North Kazakhstan, aimed to increase Kazakhstan solid grain export thanks to development of flour mill production, grain storage capacities and export infrastructure. The projects are aimed to meet foreign markets' demand for quality flour produced in Kazakhstan and will possible aid Kazakhstan becoming the largest grain exporter. Quotation end [2009-09-02]