Development Bank of Kazakhstan inks agreements with Czech financial institutions

ALMATY. April 25 (Interfax) - Development Bank of Kazakhstan has signed agreements on cooperation with two financial institutions of the Czech Republic, DBK said in a press release.

The agreements were signed during the Kazakh-Czech business forum in Astana with Export Guarantee and Insurance Corporation (EGAP) and Czech Export Bank.

The agreement on cooperation between DBK and EGAP is aimed at strengthening cooperation between the two companies to promote trade and investment flows between the Czech Republic and the Republic of Kazakhstan. DBK intends to act as a borrower or a guarantor in transactions between the two countries. The total volume of transactions within EGAP insurance coverage can reach up to 150 million euros, according to the press release.

When signing the cooperation agreement, DBK and Czech Export Bank expressed their intent to support trade and other forms of economic cooperation between the two countries, their enterprises and entrepreneurs by offering their programs and financial instruments.

Development Bank of Kazakhstan is a national development institute specializing in financing and the development of large-scale infrastructure and industrial facilities in Kazakhstan. DBK is a subsidiary of Kazakhstan's National Management Holding Company Baiterek JSC.