/KASE, February 28, 12/ - Eurasian Development Bank, whose bonds are officially listed at Kazakhstan Stock Exchange (KASE), has provided KASE with the following press-release of February 28, 2012:

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The banking pool including Eurasian Development Bank (EDB) transferred the first tranche of the loan under an SPP project for reconstruction, development and operation of airport Pulkovo in Sankt-Petersburg.

The SPP project is financed by EDB, Vneshekonombank, European Bank for Reconstruction and Development, International Finance Corporation, Severny Investment bank, Tchernomorsky trade and development bank and a row of commercial banks. The total amount of financing makes up EUR716 m. EDB's share in the project makes up USD90 m.

"The amount of the first tranche makes up USD5 m, - says deputy chairman of EDB's Management Board Gennady Zhuzhlev. - When disbursing the first tranche, an investment mechanism was tested allowing simultaneousness and congruence of actions of all financing banks, enabling the agent bank to take into account peculiarities of each of creditors when making transactions". According to his words, another drawdown of the loan will begin already in March, and from that moment onwards tranches will be disbursed regularly, as provided by the agreement.

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The full press-release is available on KASE website, at see more

[2012-02-28]