(gazeta) - Kazakhstan and China are creating a joint fund to finance projects, the Sustainable Development Fund "Kazyna".
"Kazyna" and the China Development Bank have agreed to create a joint fund to finance infrastructure and processing industry projects.
Besides, Kairat Kelimbetov, CEO of JSC "Kazyna", and Chen Yuan, Chairman of CDBduring the state visit of Nursultan Nazarbayev, President of Kazakhstan, to PRC signed a MOU, reports Trend.
Mr. Kelimbetov observed that the heads of state had reached an agreement on creating a joint fund to be discussed between the two governments. Besides, at the first phase the size agreed on a joint financing mechanism for infrastructural and investment projects. The total amount of joint investments can reach up to $5 billion.
Presently "Kazyna" fund together with Chinese companies work on a number of projects in such areas as metallurgyСЏ, telecoms, IT, etc. In relation with this "Kazyna" plans to open its offices in Beijing, Hong Kong and Urumqi.