A proposed US$ 30 million syndicated loan to Bank TuranAlem. The loan would allow Bank TuranAlem to continue to finance strong private sector companies with little access to term funding.
The loan would strengthen BTA's funding base, allowing it to provide financing to private sector companies that have few alternatives for attracting term loans in Kazakhstan.
BTA is one of few sources of term financing in Kazakhstan. This facility would allow the bank to continue to finance strong private sector companies with little access to term funding. The facility would also have a strong demonstration effect by attracting commercial banks to accept longer tenors on BTA then they have previously.
Bank TuranAlem (BTA) was formed in 1997. BTA is a private institution and is the second largest bank in Kazakhstan in terms of assets and equity. BTA is a fully licensed commercial bank offering a complete range of banking products in both tenge and foreign currencies.
US$ 10 million (€10.2 million) "A" loan for the Bank's own account with a four-year maturity. The remaining US$ 20 million (€20.4 million) would be targeted to other commercial banks. The maturity of the "B" loan would be four years with a repayment option after two years.
US$ 30 million (€30.6 million).
BTA would continue to carry out its operations in accordance with EBRD's Environmental Procedures for Banks. In implementing these procedures, BTA requires its borrowers to comply, at a minimum, with national health, safety and environmental requirements.
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Text of the PIP