Kazakh Development Bank to draw up to $37.3M loan
Baku, Azerbaijan, Oct. 28
By Elena Kosolapova - Trend:
The Development Bank of Kazakhstan has reached an agreement with the Japanese bank Sumitomo Mitsui Banking Corporation (SMBC) regarding drawing a loan amounting to $37.29 million, the bank said.
The relevant loan agreement was signed on October 27.
SMBC's loan covering up to seven years will focus on general corporate purposes of the Kazakh bank, including funding or substitution of sources of financing the investment projects of the bank.
Kazakhstan's Development Bank is a national institute for modernization and development of non-raw materials and infrastructure sectors of Kazakhstan's economy.
It was established in 2001. The main areas of the bank's activity include the development of manufacturing infrastructure and processing industry, promotion and attraction of foreign and domestic investments in the country's economy.
Edited by CN
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