The EDB increased funding of the project of Corporation "APK-Invest" LLP on grain purchase of 2010-2012 yields for exports sale to $75 million
01.11.11 16:01
/IRBIS, November 1, 2011 - Eurasian Development Bank
(EDB) has increased to 75 million U.S. dollars financing of
project of Corporation "APK-Invest" LLP (Kazakhstan) for the
purchase of grain of yields 2010-2012 for its further export
sales, was stated in the report released today by the EDB.
It is reported that in October 2010, the EDB has signed with
the Company "Corporation "APK-Invest" credit agreement,
which provided funding for the project by the EDB in the
amount of $ 50 million.
It is noted that increasing the credit line is due to increase in
the volume of grain purchased - the project envisages the
acquisition of 555,000 tonnes of grain in a number of farms of
Akmola, Kostanai and North Kazakhstan oblasts. Grain
destined for export to neighboring countries, of which member
states have substantial share.
"The project meets the mission and strategy of the EDB. It has
an impact on sustained economic growth of Kazakhstan by
promoting the development of export-oriented production", -
was stated in the message.
This is the third investment project implemented by
Corporation "APK-Invest" and EBD together. In December
2009, the EDB has taken part in pre-export financing
purchases of grain harvest in 2009 by major Kazakh agro-
industrial holding with a volume of 50 million U.S. dollars.
In May 2008, the EDB has provided Corporation "APK-Invest"
loan of $ 70.6 million U.S. dollars for 3 years for the purchase
of agricultural equipment and transfer it to the leasing of grain
producers.
[2011-11-01]