State development bank of Kazakhstan to borrow $1 bn. on foreign markets in 2006

/REUTERS, Astana, Raushan Nurshayeva, November 30, 05/ - State development bank of Kazakhstan plans to borrow about $1 bn. on foreign markets in year 2006, the bank's head said on Wednesday. "The next year we plan borrowing on foreign markets in the amount exceeding equity capital 2 times", - Kambar Shalgimbayev president of Development bank said to journalists. Bank's capital is about $528 m. The bank plans to spend borrowed funds for financing big infrastructure projects, including building of Moynakskaya HPS, which is estimated at $250 m. On Wednesday Development bank also signed an agreement with Japan bank of international cooperation (JBIC) about opening a credit line for $50 m. for financing seaports development on Caspian sea. [2005-11-30]