Development Bank of Kazakhstan acted as the guarantor of Agrofirma Kenashy LLP

/Kazakhstan today, August 28, 03/ - Development Bank of Kazakhstan (DBK) made the decision regarding issuing the guarantee in favour of the United investment fund of Islamic development bank of Agrofirma Kenashy LLP. KZ-today was informed about it by DBK. The project is concerned with creation of new capacities on grain processing and involving of additional agricultural plants in Enbekshilderskiy region of Akmolinskaya region into production. Thus, the private agricultural enterprise gets the opportunity to purchase the specialized equipment in total amount of $5.157 m. (92 tractors, 38 combine harvesters, 20 cars KamAZ and mill complex). United investment fund of IDB intends to sign leasing agreement for this sum with Agrofirma Kenashy LLP in the near time. Development Bank of Kazakhstan acts as the guarantor as securing of the borrower's obligations. As DBK noted, the positive results of this project realization will be foreign investments attraction to the republic, creation of economic space for the further, wider cooperation with foreign investors, positive influence on formation of food safety of the country, creation of the additional workplaces in rural area of the region (108 workplaces), strengthening of the budget of Akmolinskaya oblast. As a whole, DBK stated, the sides highly estimate the beginning of the perspective cooperation between the national financial development institutions. [2003-08-28]