20.05.2023

Development Banks of Kazakhstan and China agree to finance investment projects

Development Bank of Kazakhstan JSC, the sole shareholder of which is Baiterek National Managing Holding JSC and the China Development Bank (hereinafter – CDB) have concluded a General Loan Agreement. Development Bank of Kazakhstan JSC The document was signed on May 18 by the Head of Baiterek National Managing Holding JSC, Chairman of the Board of Directors of DBK Kanat Sharlapayev and President of СDB Tan Jiong within the state visit of the President of the Republic of Kazakhstan Kassym-Jomart Tokayev to China.

The amount of the limit within the agreement is 300 million US dollars.

«In the recent years several loan agreements have been signed between Development Bank of Kazakhstan and the Development Bank of China which support financing a number of important investment projects in Kazakhstan. We highly appreciate this cooperation and hope our joint efforts to develop the economies of the two countries will continue to be effective and mutually beneficial», Kanat Sharlapayev said in his speech.

These funds can be used to finance investment projects in such sectors of Kazakhstan economy as chemical and mining, in the sectors of energy, transport, production of building materials, agriculture and others.

The line is opened in US dollars to finance Kazakhstan investment projects without reference to Chinese content. At the same time, priority will be given to the projects aimed at developing the industrial potential of Kazakhstan, the production of medium and high-grade goods, as well as with a high proportion of Kazakhstan content.