Eurasian Development Bank will support Kazakh exporters

A relevant agreement between EDB and Baiterek Kazak National Holding was signed at the XIII Forum on Inter-Regional Cooperation
Eurasian Development Bank will support Kazakh exporters
05 October 08:57 2016 Print This Article

Eurasian Development Bank (EDB) and Baiterek Holding agreed to financially support Kazakh exporters. A relevant agreement was signed on Tuesday at the XIII Forum on Inter-Regional Cooperation between Kazakhstan and Russia, reads the press service of the holding.

The document was signed by Dmitry Pankin, Chairman of the Management Board at EDB, and Erbolat Dossayev, Chairman of the Management Board at the Baiterek Holding.

The parties agreed that the Baiterek Holding’s subsidiary, KazExportGarant, an export credit insurance corporation, and EDB will jointly support Kazakh exporters in arranging their insurance against export risks associated with trade both in the Eurasian Economic Union (EEU) and beyond. EDB is expected to provide around USD100 million to finance export transactions of Kazakh producers.

Eurasian Development Bank (EDB) was founded by Russia and Kazakhstan in January 2006 and aims to facilitate the development of market economies, sustainable economic growth, and the expansion of mutual trade and other economic ties in MSs. EDB’s charter capital totals USD7 billion. The Bank’s members include Armenia, Belarus, Kazakhstan, the Kyrgyz Republic, Russia, and the Republic of Tajikistan.

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