OREANDA-NEWS. August 10, 2009. Development Bank of Kazakhstan (Astana), bonds of which are listed on Kazakhstan Stock Exchange (KASE), provided KASE with a press release, reported the press-centre of KASE:

General credit line agreement was signed between Development Bank of Kazakhstan and Chinese Eximbank. This agreement resulted from agreements reached during the visit of the Kazakhstan President N. Nazarbaev to the Chinese Republic (April 16, 2009), and signed memorandum between the government of the two states regarding complex cooperation in energy and crediting.

The agreement was signed by Chairman of Development Bank of Kazakhstan Gali Iskaliev and Vice-president of Eximbank Sou Zhong.
 
According to the signed Agreement Eximbank is intending to provide Development Bank of Kazakhstan with a USD5 bn credit line for 15 years. This credit line has a purpose - funds shall be provided to implement investment projects of Kazakhstan companies, including export of industrial products, services and equipment of Chinese companies.

Within the frames of the agreement the parties will conclude individual credit agreements to implement specific projects. The list of investment projects will be deemed by the State commission for modernization of economy with the Kazakhstan Government.

The credit line will be allocated for development of energy, transport and communications, and implementation of strategic projects in metallurgy, chemical and petrochemical industries.

It is important to note, amid deteriorating situation on the world capital market, attraction of this credit line is of a great importance.