EBRD extends a credit line for Kazakommertsbank by $15 m

/REUTERS, Almaty, June 4, 04/ - The European Bank for Reconstruction and Development increased the amount of a credit line from $25 million to $40 million opened last December for Kazkommertsbank under the program of grain receipts, the bank informed. The distinguishing feature of the credit line is that grain companies of Kazakhstan, major wheat suppliers in Central Asia, may borrow at relatively low rates for a year with grain receipts or tangible property serving as collateral. According to the announcement of the bank, the EBRD lent another $15 million because of growing needs of bank's clients. The EBRD plans to lend a total of $150 million under the program this year. [2004-06-04]