BAKU, Azerbaijan, Dec. 4
By Nargiz Sadikhova - Trend:
Eurasian Development Bank (EDB) and Kazakhstan Development Bank (DBK) signed an agreement which oversees opening of a credit line to DBK for 5.7 billion Russian rubles ($76.9 million) for a period of 7 years, Trend reports citing EDB.
Transactions in the financial sector are among the priority areas of the EDB's investment activities, in accordance with the current EDB Strategy for the period 2018–2022. The allocated funds will be used to finance investment projects in priority sectors within the mandate of DBK.
As noted during the signing, the document will make it possible to lay the foundation for a new area of cooperation in the implementation of transactions in Russian rubles within the priority areas DBK-supported projects.
The Eurasian Development Bank (EDB) is an international financial institution established to promote economic growth in its member states, extend trade and economic ties among them, and support integration in Eurasia through investment.
The Development Bank of Kazakhstan is a financial institution focused on the development of the non-primary sector of the economy.
The bank invests in projects that contribute to the sustainable development of the national economy of Kazakhstan.
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