Baiterek Holding and Bank of China discussed expanding financial cooperation.

On June 15, in Astana, Rustam Karagoishin, Chairman of the Board of JSC National Investment Holding Baiterek, met with a delegation from Bank of China Limited and JSC SB Bank of China in Kazakhstan. The parties discussed the implementation of the existing agreement on financing in Chinese yuan and prospects for further expansion of cooperation in the funding sector.

The delegation of Bank of China Limited was led by Deputy Chairman of the Board Liu Chenggang. The negotiations were also attended by Director of the Financial Markets Department of Bank of China Limited Song Funing, Deputy Director of the Corporate and Investment Banking Department Liu Wei, Deputy Director of the Financial Institutions Department Xing Ping, and Chairman of the Board of JSC SB Bank of China in Kazakhstan Hou Yuanming. From Baiterek Holding, the meeting was attended by Deputy Chairman of the Board Ersain Khamitov, Managing Director Saken Olzhabayev, and Chairman of the Board of JSC Development Bank of Kazakhstan Marat Yelibayev.

The key topics of the talks were the implementation of a bilateral agreement on Chinese yuan financing between Bank of China Limited and Baiterek Holding, as well as expanding cooperation with Bank of China Limited in funding the Development Bank of Kazakhstan. The parties discussed opportunities for financing investment and infrastructure projects, interaction in financial markets, the development of Chinese yuan instruments, and expanding partnerships in investment banking and capital markets.

"For Baiterek Holding, developing cooperation with leading international financial institutions is an important area of ​​work to expand financing opportunities for the Kazakh economy. "Collaboration with Bank of China opens up additional prospects for the implementation of investment and infrastructure projects and contributes to the strengthening of financial and economic ties between Kazakhstan and China," noted Rustam Karagoishin.

The parties also discussed the possibility of exchanging experience, including organizing training programs and internships in analytical research, corporate governance, and project finance.

Baiterek Holding's interaction with Bank of China Limited is carried out, in part, through JSC SB Bank of China in Kazakhstan, a subsidiary of the bank operating in the Kazakhstan market. Cooperation in yuan financing contributes to the diversification of funding sources for Kazakhstan's development institutions and the expansion of capital raising instruments for the implementation of priority projects.

Reference Information:

Bank of China Limited is one of the largest state-owned commercial banks in the People's Republic of China, founded in 1912. The bank is represented in 64 countries and regions worldwide, has a network of more than 543 overseas branches, and maintains correspondent relationships with more than 1,200 banks.

JSC SB Bank of China in Kazakhstan is a subsidiary of Bank of China Limited in the Republic of Kazakhstan and has been operating in the country's financial market since 1993.

Baiterek National Investment Holding JSC is a development institution of the Republic of Kazakhstan, providing financial and institutional support for the implementation of investment projects and development programs in priority sectors of the economy.