OREANDA-NEWS. November 22, 2010. Eurasian Development Bank (EDB) signed a Memorandum on Co-operation with  Joint-Stock Company "National Mining Company Tau-Ken Samruk" (JSC NMC Tau-Ken Samruk), reported the press-centre of KASE.

The document signed by K. Shalgimbaev, Chairman of Board of EDB, B. Svyatov, Chairman of Board of NMC Tau-Ken Samruk, is aimed at fostering "implementation of joint medium- and long-term investment projects supporting development of raw materials sources in the Republic of Kazakhstan, increasing high-tech output with high value added, creating new jobs in the country's mining industry".

The Memorandum stresses, that the parties have common interests in Kazakhstan's mining and metallurgy, in high-tech and efficient industries, investment projects implemented with the use of state-private sector partnership. Co-operation regarding those issues can go through particular investment  projects financing, as well as by way of exchanging knowledge and experience at workshops, conferences, business-forums and other events organized by the parties.

According to the document, NMC Tau-Ken Samruk will provide to EDB information about investment projects where EDB's participation as co-investor and/or financing arranger is possible. EDB, in its turn, will update NMC Tau-Ken Samruk on investment projects interesting for its Kazakhstan partner.

NMC Tau-Ken Samruk obliges itself to provide "required financial participation in projects supported by EDB, in creation and maintenance of necessary collateral base of EDB-provided loans and guarantees, organizational and legal and other kinds of support in implementing such projects". EDB, in its turn, will consider financing opportunities for NMC Tau-Ken Samruk proposals, and also takes on ensuring of co-operation with NMC Tau-Ken Samruk during joint financing of investment projects.

"Eurasian Development Bank values very much the significance and promising outlooks of the signed Memorandum which is going to be a base for multilateral,  and no doubt, mutually beneficial co-operation, says K. Shalgimbaev. – Mining and metallurgy in Kazakhstan needs large-scale projects for their development, and big and flexible long-term investments are a prerequisite. EDB is prepared  for such projects, which directly or indirectly will promote integration in Eurasia. We intend to begin the implementation of principles and provisions of  the Memorandum in the nearest future".