07/25/2024 17:35:00
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During the Belgian presidency of the European Union Council, the Embassy of Kazakhstan, Baiterek Holding, and the Export Credit Agency of Kazakhstan participated in an informal meeting of the EU Council working group on export credits. This collaboration involved the Ministry of Foreign Affairs of Belgium and the Credendo Export Credit Agency
Timur Sultangozhin, Deputy Head of the Mission of Kazakhstan, underscored Kazakhstan's trade and economic potential, particularly emphasizing the country's commitment to enhancing its transport and logistics capabilities. Ayan Bektybaeva, Deputy Chairman of the Export Credit Agency of Kazakhstan, outlined Kazakhstan's aim to achieve carbon neutrality by 2060.
The event focused on financing significant infrastructure projects in Kazakhstan with the assistance of major international export credit agencies. One such example involves the Development Bank of Kazakhstan, a subsidiary of Baiterek Holding, which successfully secured substantial loan funds for the construction and modernization of key production facilities within the country.
Notable agreements included the financing of a mining and processing plant in the East Kazakhstan region amounting to US$120 million, facilitated by J.P. Morgan with participation from EKF (now EIFO). This transaction not only reduced financing costs through insurance coverage but also broadened DBK's international financial network, supporting a prominent Danish exporter and marking the first EIFO transaction in Kazakhstan.
"Baiterek Holding is committed to driving Kazakhstan's economic growth by integrating our major infrastructure projects into global financial and economic processes. This marks a significant stride in expanding our horizons and fortifying international partnerships," – stated Madina Erzhanova, Director of the Department of Strategy and Corporate Development at Baiterek Holding.
