EDB extends Kazakh-Russian uranium JV $50 mln credit
ALMATY. March 14 (Interfax) - The Eurasian Development Bank (EDB) has extended a credit of $50 million to the Kazakh-Russian joint venture TOO Karatau, which prospects for, produces, and performs primary processing on ore containing uranium in South Kazakhstan Region.
This is a three-year credit, the EDB said in a statement.
Karatau belongs to Russia's state nuclear power corporation Rosatom and Kazakhstan's national nuclear company Kazatomprom. It was created on May 27, 2005 with the aim of developing section #2 at the Budennovskoye uranium deposit.
The EDB is an international financial organization founded by Russia and Kazakhstan in January 2006 to assist the development of market economies in its member countries, and expand trade and economic ties. The EDB has charter capital of more than $1.5 billion. Other members of the bank are Armenia, Tajikistan, Kyrgyzstan and Belarus.
