Development Bank of Kazakhstan will finance in SKO a number of investment projects in the amount of $65m

/Kazakhstan today, October 16, 02/ - Development Bank of Kazakhstan will invest $65m into investment programs of South-Kazakhstan oblast. About this the bank's president Kambar Shalgimbayev informed by the results of familiarization trip SKO, informs a correspondent of KZ-today. The bank's president highly marked the fact that "South-Kazakhstan enterpreneurs managed to present so many thoroughly developed investment projects". In particular, the bank's governing body made the decision to invest for 100% (KZT30m) the project of "NIMEX" corporation - "Building of departments on processing of ginned cotton". Besides there will be invested for 90% projects of Yuzhpolimetall CJSC - "Renovation and production of electric switches" and Kontex LLP on building of cotton processing plant. Before making of the decision, the bank's governing body during two weeks familiarized itself with the condition of industry in the oblast and the program of its further development. Development bank of Kazakhstan, which's shareholders is the Government and local executive bodies, was founded in 2001 in order to finance large mid- and long-term projects in non-raw stuff sector of Kazakhstan economics. As of beginning of July of 2002 the bank's capital equaled to KZT30.5bn, assets KZT25.2bn. [2002-10-16]