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Baiterek and EDB to provide loans to Kazakhstan exporters

by October 4, 2016 Fun

JSC NMH Baiterek. October 4. A cooperation agreement in the field of export promotion has been signed at the XIII Forum of Interregional Cooperation between Kazakhstan and Russia with participation of the heads of state in Astana today. The document was signed by Chairman of the Board of Baiterek Holding Yerbolat Dossayev and Chairman of the Board of the Eurasian Development Bank Dmitry Pankin.

Under the Agreement, JSC Export Credit Insurance Corporation KazExportGarant (a subsidiary of Baiterek Holding) and Eurasian Development Bank (EDB) will jointly support Kazakhstan exporters by means of insurance of export risk of goods, works and services within the framework of the Eurasian Economic Union and beyond. For this purpose, the EDB allocates about 100 million US dollars to finance the export of Kazakhstani producers.

The potential for cooperation is huge. Today, we have got new opportunities related to export support, market promotion, launch of joint ventures. It is time to apply the new approach, special products, mutual credit lines. Baiterek Holding is ready to provide any support, the head of the Holding Yerbolat Dossayev noted.

In addition, Yerbolat Dossayev and General Director of the Russian Export Center Pyotr Fradkov signed a Memorandum of Understanding and Cooperation. Within the framework of the memorandum the parties identified priority industrial sectors they are going to jointly develop: production of food, agricultural chemistry, manufacture of motor vehicles and spare parts, agricultural machinery and equipment for the mining, oil and petrochemical industry, production of construction materials, ferrous and non-ferrous metallurgy.

Source: Baiterek