OREANDA-NEWS. October 08, 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:

Development Bank of Kazakhstan and BNP Paribas signed a EUR10.2 m credit agreement October 6, 2009 during the Kazakhstan and France business forum within the framework of the visit of France President N. Sarcozy to Kazakhstan on October 6, 2009.

This is the first credit issued within the earlier opened EUR200 m credit line. The agreement was signed by Managing director Arman Kasenov and BNP Paribas regional manager for Central Asia and Caucasus Zhan-Pier Autelli, Export finance director for Caucasus, Turkey and Central Asia Mishel Mareshal, Deputy head for global export financing, Head of regional development and debt obligations issue Yaser Henda.

The funds will be spent to acquire equipment for construction of a power station in Kzyl-Orda oblast at Akshabulak deposit.

It is important to note, since the beginning of restructuring of Alliance Bank and BTA Bank, this is the first deal of Development Bank of Kazakhstan with such large foreign institutions. This is evidence of trust to Development Bank of Kazakhstan.