Development Bank of Kazakhstan, Deutsche Bank sign deals worth $200 mln, 200 mln euros

ASTANA. Sept 17 (Interfax) - Development Bank of Kazakhstan (DBK) has signed a mandate letter with Deutsche Bank for over $200 million to finance investment projects in Kazakhstan, DBK's press service said.

DBK also concluded two framework agreements: with LBBW for 100 million euros to finance export transactions with the support of credit agencies and with KFW IPEX Bank for 100 million euros, which will be used to support infrastructure and industrial projects in Kazakhstan.

"The agreements that have been concluded with German companies demonstrate that international investors place great trust in the investment climate of Kazakhstan and in the Development Bank of Kazakhstan, which is a key development institution in the republic. The investment will support key sectors of our economy, including infrastructure and industrial production, which will also create additional jobs and strengthen the country's export potential," Marat Yelibayev, the head of Development Bank of Kazakhstan, is quoted as saying.

Development Bank of Kazakhstan was organized in 2001. The bank finances medium- and long-term investment projects in infrastructure and non-resource sectors and attracts external and internal investment in the republic. DBK is part of National Managing Holding Company Baiterek, which was created in May 2013 to manage the stakes in the national institutes of development, the national companies and other legal entities. Baiterek either owns such stakes or manages them on behalf of the other stakeholders.