Baku, Azerbaijan, Sept. 15
By Elena Kosolapova - Trend:
Kazakh Baiterek holding and Bank of China have agreed to establish a working group to implement joint projects, the holding said.
Previously, Baiterek holding and Bank of China signed a memorandum of cooperation, which envisages reviewing the cooperation on investment projects. Bank of China expressed readiness to allocate $5 billion for the projects being implemented as part of the industrial-innovative development of Kazakhstan as part of the memorandum.
The memorandum is considered as a plan of the financial support for a large program among 45 projects to be implemented by the holding, Kuandik Bishimbayev, the chairman of the board of Baiterek holding, said.
The working group from the Kazakh side will include the representatives of subsidiaries of the holding - the Development Bank of Kazakhstan, Damu Fund, Kazyna Capital Management.
The working group from the Chinese side will include the representatives of Bank of China in Kazakhstan.
Bishimbayev informed the Chinese partners that the list of projects for possible joint implementation includes the projects of large, small and medium businesses.
Large projects cover the fields of wind power engineering, metallurgy with funding worth from $600 million to $1 billion.
"We are interested in the projects of wind and electric power engineering," Tian Guoli, the head of Bank of China, said. "Moreover, the support for small and medium businesses is a priority for us in China. We can support the foreign small and medium business, in particular, in Kazakhstan."
Following the meeting, Bishimbayev and Guoli agreed that the list of priority projects for implementing will be sent to the Chinese side for a few days, as well as holding the first meeting of the working group.
JSC National Managing Holding Baiterek was established by the decree of the President of Kazakhstan dated May 22, 2013. The Holding's goals include the development and diversification of the economy, investment attractiveness, development of clusters and improvement of the corporate management system of its subsidiaries.
Edited by CN
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