OREANDA-NEWS. The facility will be used for financing the contracts concluded by Kazakhstani companies for delivery of equipment produced, Astana Finance's press center disclosed. To-date 5 such transactions were already signed, the latter between Canam Engines (Canada) and Investa Agro for delivery of agricultural equipment, totaling US$ 3.5 million. 

Export Development Canada ("EDC") is an export and credit agency making proposals on innovational and commercial decisions to Canadian exporters and investors to develop their business abroad. The agency cooperates with 6, 400 Canadian companies and provides services to 200 international companies.

The EDC is a recognized leader in the Canadian market and during the last 7 years had been found invariably among the 100 most successful employers in the country. 

While the contract signing ceremony, the Canadian Extraordinary and Plenipotentiary Ambassador to Kazakhstan Mrs. Margaret Skok made a note quoted as saying that "signing of this contract holds particular promise for further economic development and strengthens the highly competitive position both of Canada and Kazakhstan in agricultural sector of the economy."

The attraction of this credit facility demonstrates the high-level confidence of international financial institutes in respect of JSC Astana Finance. This event has prefaced the successful penetration of the Company into the world capital markets, i.e., in September, JSC Astana Finance attracted a US$50 million syndicated loan in spite of the liquidity crisis.  

Today, among non-banking organizations Astana Finance is one of the leaders operating in the market of financial services. The Company’s strategy aims at creating and development of subsidiaries to provide complex services to population and businesses of Astana. Taking the opportunity provided by a non-banking organization's status, the Company is investing efficiently into various sectors of the economy. Its 10-year experience in the financial sector allows the Company to operate efficiently in implementing the new projects and providing consulting services.

International Rating Agency Moody’s assigned "Ba1", and Fitch Rating Agency assigned the "BB+" rating to Astana Finance, ranking it as one of the leading financial institutes in the country.