|
EBRD President to visit Kazakhstan for investors' conference
$26 million in Bank CenterCrdit and ATF Bank deals announced
EBRD President Jean Lemierre visits Kazakhstan this week to co-chair, with
President Nursultan Nazarbayev, the 12th Plenary Session of the Foreign
Investors Council (FIC) which meets in Astana on Friday 10 December. The
council is a consultative and advisory body established in 1998 to enhance the
investment climate and create a favourable framework for investments in
Kazakhstan, and to promote the integration of Kazakhstan into the global
economy.
The co-chairs will hold a joint press conference at the FIC site at 17.50
local time on Friday.
Prior to the Foreign Investment Council meeting Mr Lemierre is visiting the
Kyrgyz Republic. On his way he will stop briefly in Almaty today (Wednesday)
to meet with clients involved in new investments.
Two investments signed by Mr Lemierre today continue the Bank’s successful
lending programmes under the Kazakhstan Small Business Programme. The EBRD is
lending $10 million each to ATF Bank and Bank CenterCredit which will use the
money to finance micro and small businesses in Kazakhstan. The EBRD’s small
business programme in Kazakhstan provides loans from $20 to $200,000 via 200
micro-lending outlets in 40 towns. More than 119,000 loans with a total volume
of $684 million have been provided to micro enterprises under the Kazakh
programme thus far.
A third deal was announced today also with Bank CenterCredit today, to
increase financing available to private farms and agribusiness companies in
Kazakhstan for buying key agricultural equipment via a $6 million facility.
The development of financing alternatives for Kazakhstan’s agribusiness sector
has been the focus of the EBRD’s Grain Receipts Programme since 2001. The new
financing builds on this successful programme and is intended specifically for
agricultural equipment. Bank CenterCredit has played a key role in this
programme, administering increasing amounts of financing for its customers.
Mr. Lemierre said the extension of these programmes will have a direct impact
on the availability of finance for enterpreneurs. Agricultural development, in
particular is crucial for sustainable economic growth in Kazakhstan, and will
support the country as it moves towards World Trade Organisation accession,
Mr. Lemierre added. The grain receipts programme will bring higher investment
in agriculture, foster competitiveness and help the country become a stronger
player in the international agrarian market.
|
