Subsidiary Bank Sberbank of Russia in cooperation with KazakhExport funded export of Kazakhstan assembly cars to Uzbekistan

/KASE, February 3, 2020/ – Subsidiary Bank Sberbank of Russia (Almaty), whose bonds are officially listed on Kazakhstan Stock Exchange (KASE), has provided KASE with the following press release dated February 3, 2020: quote SB Sberbank JSC in cooperation with Export Insurance Company KazakhExport JSC completed a deal to finance the export of Kazakhstan assembly cars to Uzbekistan for the amount of 11.8 million US dollas. The Bank financed the supply of 766 JAC S3 and JAC S5 cars to Uzbekistan market in the framework of an agreement between Kazakhstan and Uzbekistan to increase the export of cars jointly manufactured at the site of SaryarkaAutoProm LLP. The relevant Cooperation Agreement was signed by Ruslan Iskakov, the Chairman of the Management Board of Export Insurance Company KazakhExport JSC, and Shavkat Umurzakov, the Head of Uzautosanoat JSC, during the presentation of Chevrolet model range in the National Automobile Pavilion with the participation of Askar Mamin, the Prime Minister of the Republic of Kazakhstan. The document provides for the use of financial and insurance instruments of KazakhExport. "Diversification of the economy and fulfillment of its non-resource export potential are among the key tasks of Kazakhstan's development. Sberbank is pleased to contribute to the development of the automotive industry of the republic, one of the priority and dynamically developing sectors," Yeldar Tenizbayev, the Chairman of the Management Board of SB Sberbank JSC, commented on the transaction. The mission of Export Insurance Company KazakhExport JSC (part of the structure of NMH Baiterek JSC) is to support the growth of export of non-primary goods, works and services in priority sectors of the economy and create the practice of financial, insurance and non-financial support to Kazakhstan enterprises. unquote [2020-02-03]