Development Bank of Kazakhstan CJSC as for now has made credit contracts for $62.5m
/Kazakhstan today, March 28, 02/ - Development Bank of Kazakhstan CJSC
as for now has made credit contracts for $62.5m. It was said today, March
28, holding speech at the meeting with a participation of the state head and
akims of the republic regions by the vice-premier - the minister of finance of
the RK Alexander Pavlov.
According to his data, credit contacts for the amount of $600m "are being
worked out". At the same time, A. Pavlov demanded from the regions heads
"as soon as possible complete a formation of authorized capital of the
development bank". Based on the Ministry of finance data, by the beginning
of 2002 their own liabilities before Development Bank of Kazakhstan haven't
been performed by 7 out of the 16 regions of the republic, which didn't'
transfer to authorized capital of the development bank a total amount of
KZT2.4bn. "At the same time, as of the year beginning KZT22bn were on the
accounts of the regions," stressed Pavlov.
Development Bank of Kazakhstan founded on May 31,2001 in accordance
with a decree of the President of Kazakhstan is a large domestic financial
institution that has to provide mid- and long-term financing of the investment
projects in priority spheres of the economy.
A size of authorized capital of Development Bank of Kazakhstan CJSC
accounts for KZT30bn. Shareholders of the bank are the Government of the
RK - 75% of announced authorized capital and local executive bodies of all
oblasts and Almaty and Astana cities - 25%. As of February 1,2002 a 90%
(KZT27bn) of announced authorized capital has been paid.