OREANDA-NEWS. On January 28, 2007 Kazakhstan Bank of Development JSC (Astana), securities of which are traded in Kazakhstan stock exchange's (KASE) category "A" official list, provided KASE with the press-release in which the following is informed, reported the press-centre of KASE:

In Astana had taken place the opening of Practical Conference "Interaction of Business and Kazakhstan Bank of Development: experience and perspectives". As the organizer of conference is acting Kazakhstan Bank of Development JSC, entering the staff of Fund for stable development Kazyna. In the Conference are participating the representatives of second tier banks (STB), participated by Plan of initial actions for provision of stability for financial sector (refinancing of investment projects), managers of companies-borrowers of Bank, management of FSD Kazyna and Kazakhstan Bank of Development.

Main objective of conference is further strengthening of contacts between development institutions and business circles, and also search for methods of increase of effectiveness of such two-sided interaction.

Since start of activity in year 2001 by Kazakhstan Bank of Development is providing the dynamical growth of crediting of economy considering real investment demand of private sector and state. Bank finances projects in 11 branches of economy almost in all regions of Kazakhstan, and significant stake of Bank's credits comes for processing branches of economy, in particular in energy and transport infrastructure, which is priority for Bank.

So, for reporting period, were approved by Bank and are on different stages of realization 151 investment projects and export operations for amount of $5,935 m., at that participation of Bank made $2,439 m.

Bank is actively establishing cooperation with second tier banks. On June 25, 2007 Bank had signed agreement about cooperation in the field of co-financing of projects with such commercial banks as: Alliance Bank JSC, Bank TuranAlem JSC, Bank CenterCredit JSC, Kazkommertsbank JSC and Halyk Bank of Kazakhstan JSC.

As the Chairman of Board of directors of Kazakhstan Bank of Development JSC Mukan Sagyndykov noted: "Combining the principles and methods of commercial banks and development institutions of fund, such mutually beneficial cooperation will promote the realization of "bursting" projects of regional and international meaning and new capital investments to priority branches of Kazakhstan economy".

One of the first steps to long-term cooperation had become the suggestion from the side of FSD Kazyna JSC and Kazakhstan Bank of Development to second tier banks about possibility of refinancing of investment projects of commercial banks in the frames of Plan of initial actions for provision of stability of social-economic development of Republic of Kazakhstan, announced in November 2007.

For today, by Bank's Board of directors were approved for financing 12 investment projects for total amount of almost $250 m.

By opinion of participants of conference, using the institutional and financial potential of development institutions, KBD, STB and business-structure, it has all conditions for effective cooperation, which will let to provide in future the stable crediting of projects of real economy sector.