Kazakhstan Bank enters international lending market

Kazakhstan Materials 7 November 2018 16:56 (UTC +04:00)

Baku, Azerbaijan, Nov. 7


Kazakhstan's Altyn Bank JSC has allocated funds to the Belarusian bank “Belinvestbank” JSC in the framework of a syndicated loan, the Kazakh media reported Nov. 7.

The total amount of the loan issued for a period of one year amounted to 20 million euros. These funds will be allocated for financing the trade contracts of Belinvestbank's clients related to the supply of goods, equipment and services from Russia to Belarus.

The Chairman of the Board of Altyn Bank JSC Marat Almenov noted that the bank is interested in placing foreign currency liquidity in international markets.

Russia’s Eurasian Development Bank, which brought together the banks from the three countries, acted as the organizer of the syndicated loan for the first time.

“Of course, it is of great importance for us that the banks of Belarus, Kazakhstan and Russia have come together under our auspices. It is also important that the allocated funds will be used to finance the movement of goods and services between the Eurasian Development Bank countries,” the Managing Director for Assets and Liabilities of the bank Dmitry Ladikov-Royev said.

In turn, the Chairman of the Board of Belinvestbank, Andrei Brishtelev, believes that the attraction of a syndicated loan was another step in diversifying the resource base of Belinvestbank.

“The further development of cooperation with international financial institutions makes it possible to attract additional resources into the economy of Belarus, in particular for the development of small and medium-sized businesses in our country, a segment that should be one of the drivers of economic growth in the future,” Andrei Brishtelev said.