OREANDA-NEWS. On June 27, 2008 Bank CenterCredit JSC (Almaty), a listing company of Kazakhstan Stock Exchange (KASE), provided KASE with a press release, reported the press-centre of KASE:

On June 26, 2008 Bank CenterCredit JSC (BCC) and Netherlands Development Bank (FMO) signed a seven year \\$25 m. subordinated credit agreement. This subordinated credit was included in calculation of the second level capital, which in its turn will lead to increase of capitalization of the Bank.

Netherlands Development Bank (FMO) was established in 1970 as a result of cooperation of the Netherlands Government and public enterprises. The main activity of FMO is to provide long-term financing to companies and financial institutes of developing countries.

Cooperation of Bank CenterCredit JSC and FMO has begun in 2003. The funds of the first credit were directed to financing of small and middle business. A new deal on attraction of subordinated loan, concluded on conditions of financial instability of the market, proved the trust to BCC as a financial institute with a reliable reputation and sensible policy.

"Providing seven year financing with a fixed rate, FMO enlarges access to funding for longer terms. In our opinion, the current market situation creates favorable conditions for extension of cooperation and strengthening of relations with international financial organizations, such as EBRD, IFC, DEG and FMO, with which BCC has a number of projects" - Vladislav Li, Chairman of the Management Board of CenterCredit JSC noted.