Development bank of Kazakhstan proposes a three-level scheme of collaboration between development institutions-the head of the bank

/Kazakhstan today, December 19, 03/ - With the purpose of providing complex collaboration between development institutions, created under the framework of Strategy of industrial - innovative development of the RK by 2015, Development bank of Kazakhstan (DBK) "views a creation of a scheme, which would include Coordinating council at the highest level, at medium - a system of multi- and bilateral agreements on cooperation between development institutions, at the lowest - interdepartmental and internal rules and procedures of agreement realization and effective collaboration as very useful". Kambar Shalgimbayev, the Chairman of DBK, expressed such an opinion today, on December 19 in Astana, at republican conference on discussion of Strategy's realization mechanisms. According to him, coordinating council, headed by the prime minister of the country and consisting of directors of development institutions and authorized state bodies "would help to work out a single approach for joint activities of development institutions as a whole, taking into account different point of views on a number of issues, and resolving problems that might occur". K. Shalgimbayev believes that relationships between development institutions "should be built upon individually, on bilateral basis, increasing its practical meaning". Commenting on goals and tasks of DBK's role in realization of the Startegy, the head of the bank stressed that document determines the main goal of DBK - financial support to private business and government's initiatives (in terms of infrastructure projects), by providing long-term and medium-term low interest loans (including export loans), as well as by issuing guaranteeing notes on loans and borrowings, given by other loan and thrift institutions. Having precise directions and clearly determined goals, intends to execute realization of Strategy of industrial - innovative development of the RK for the period 2003 -2015 in accordance with designated priorities", -K. Shalgimbayev stated. According to DBK's data, since its operations began, the bank took part in realization of 35 projects and export deals for a total amount exceeding $400 m, including DBK's $291.3 mn, thereby having employed nearly 50,000 persons. [2003-12-19]