Bank CenterCredit JSC (Kazakhstan) signed a credit agreement for $10 m.

/IRBIS, Natalya Kuznetsova, May 30, 05/ - Bank CenterCredit JSC (Almaty, the Bank), whose shares and bonds are traded in Kazakhstan stock exchange's (KASE) official "A" listing category, has spread press-release saying on May 25 of 2005 Vladislav Lee Chairman of Bank's Executive committee signed a 7-year credit agreement with International Finance Corporation (IFC) for $10 m. The release says it's planned to use the borrowed funds for financing leasing projects of Bank's clients and Bank's subsidiary leasing company - CenterLeasing LLP. The credit line will let increase availability of financing for private companies of agricultural and oil business and other branches of Kazakhstan industry for purchasing and leasing of key equipment. Bank also says IFC, which is among the group of World Bank's organizations, was founded in 1956 with the purpose of stimulating external and internal investments into the private sector of developing countries - members of IFC. On Kazakhstan market it's been functioning since 1995. Having analyzed thoroughly activity of the existing banks, IFC chose the Bank as a potential partner on domestic market and first for latest 4 years granted a credit to Kazakhstan bank. The Bank is one of five big banks of Kazakhstan. As of April 1 of 2005 the Bank had 19 branch offices and 100 cash-settlement offices in Kazakhstan. The Bank has Ba1 long-term rating on bank deposits in foreign currency assigned by Moody's Investors Service. On February 11 of 2005 the Bank issued eurobonds for $200 m., maturity term is in year 2008 and interest rate is 8%. [2005-05-30]