China Development Bank to lend 2 bln yuan to Development Bank of Kazakhstan

ALMATY. Sept 13 (Interfax) - The Development Bank of Kazakhstan (DBK) and the China Development Bank (CDB) have signed the first loan agreement for 2 billion yuan, the DBK press service reported.

"The agreement with the China Development Bank and the negotiations with major Chinese financial institutions open new prospects for expanding international partnership and implementing joint projects in key sectors of Kazakhstan's economy," DBK Deputy Chairman Botagoz Abisheva is quoted as saying.

Development Bank of Kazakhstan is a national development institution for modernization and development of the non-resource and infrastructure sectors of the economy of Kazakhstan, established in 2001. The main areas of activity are development of production infrastructure and manufacturing industry, promotion and attraction of foreign and domestic investment in the country's economy. DBK is one of the largest investors in state programs for industrial and innovative development and is part of National Management Holding Baiterek JSC.