OREANDA-NEWS. July 12, 2011. Eurasian Development Bank (EDB) and the diversified agricultural company Ivolga-Holding signed a loan agreement of USD50 m. The agreement will involve pre-export financing aimed at developing the Kazak agriculture, as well as increasing production and export of grain, reported the press-centre of KASE.

Credit funds disbursed will be directed to financing of agricultural enterprises, grain producers, during the sowing campaign and the harvest, production of flour, purchase and selling of grain and flour for exporting abroad, as well in the home market.

"As our ancestors used to say - bread is the beginning of everything, and we are pleased to take part in such good-hearted action as developing the Kazakh agricultural industry, - says the Deputy Chairman of EDB Kambar Shalgimbaev. The project we are financing has an important integrating impact: its output is to be exported, in particular to EDB member countries. So, its implementation will help expand mutual trade and will positively influence the development of single grain markets in Eurasia", pointed Kambar Shalgimbaev.