OREANDA-NEWS. In the course of the International Conference “Sustainable Growth through Long-Term Investments” State Corporation ‘Bank for Development and Foreign Economic Affairs (Vnesheconombank)’, JSC The Kazakhstan Development Bank (KDB), OJSC, VEB-Leasing and JSC KDB-Leasing (KDB’s subsidiary) entered into a Memorandum on Cooperation in Exchanging Experience on Leasing Transactions.

On behalf of Vnesheconombank the Memorandum was signed by Chairman Vladimir Dmitriev, on behalf of KDB – by Board Chairman Nurlan Kusainov, on behalf of VEB-Leasing - by Director General Vyacheslav Solovjev and on behalf of KDB-Leasing – by Board Chairman Erden Kunanbaev.

The parties agreed to expand mutual cooperation in sharing experience on leasing transactions to assist in developing this business not only in Russia and Kazakhstan but also in other countries – members of the Shanghai Cooperation Organization. The following lines of activities have been identified:
* corporate leasing providing for proposals for advanced innovative leasing solutions, upgrading leasing transactions on purchasing railway wagons, aircraft, equipment and automobiles;
* retail leasing (for small and medium-sized enterprises except for natural entities): expanding a range of affordable and service friendly leasing programs to purchase cars, trucks and commercial vehicles, special machinery and equipment, optimizing decision-making process, simplifying registration procedures.

Top priority is to be given to expanding and diversifying a range of instruments for raising financial resources on international and domestic capital markets (syndicated loans, bond issues, credit notes, trade financing) as well as to increasing average financing periods and reducing financing costs. The parties also intend to focus on developing joint programs with manufacturers of leasing subjects for its key customers.