OREANDA-NEWS. June 18, 2010. Eurasian Development Bank (EDB), bonds of which are present in Kazakhstan Stock Exchange (KASE) official list, informed KASE that its Board adopted the Program of trade funding instruments development and mutual trade between the Bank participants through target credit lines provision to financial institutions, reported the press-centre of KASE.

The Program goal is to extend external funding of financial institutions – EDB participants and stimulate provision by them of loans to the real sector enterprises, involved to an international trade. This will create favorable conditions for importers and exporters and shall make their entry to new market of goods and services easier. In combination the aforementioned shall facilitate mutual trade and integration processes between countries-EDB participants.

"The Program stipulates the direct funding of export-import trade agreements and the Bank involvement to confirm obligations on letters of credit, guarantees, etc.,- explained Dmitriy Krasilnikov, the EDB Board member, Head of Corporate Funding and Financial Institutions Department.- The funding term on sub-credits under such lines is up to 12 months that can be extended for the same period. Rates shall be determined case by case, individually for each specific case.

The Bank expects that adopted Program shall allow activating interaction with local financial institutions, facilitate their investment attractiveness for other market participants and creation of favorable conditions for enterprises development involved to international trade in countries - EDB participants.

On the other hand the use of short-term credits and extension of the partnership base at the financial sector expense shall diversify the EDB products line, credit risks and shall make the Bank assets management more flexible.