/KASE, December 8, 11/ - Alliance Bank (Almaty), bonds of which are officially
listed on Kazakhstan Stock Exchange (KASE), provided to KASE the following
press release of December 7, 2011:
quotation
Alliance Bank JSC is pleased to announce that it starts lending under the
Asian Development Bank (ADB) Investment Program implemented within the
framework of a tripartite agreement between the Bank, ADB and "Damu"
Entrepreneurship Development Fund JSC.
The Bank's Branch in Uralsk has funded a project worth KZT 69 million 470
thousand. The customer is one of the major entrepreneurs in the region, which
provides services of food wholesale and retail sale to the population of Uralsk
city through its own shops, markets, storage facilities. The funds are used to
expand the business: the acquisition of commercial real estate for additional
storage space. Favorable lending terms of ADB program will help the customer
improve the conditions of storage and marketing of food products through the
provision of these services in a covered area with associated equipment.
In general, Alliance Bank plans to spend KZT7.4 billion to finance local SMEs
under ADB Investment Program.
ends
The press release full version is available on KASE website at
http://www.kase.kz/files/emitters/ASBN/asbn_reliz_071211.pdf
[2011-12-08]