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Vnesheconombank to grant loan to Kazakh bank
RBC, 22.05.2008, Moscow 18:59:34.The Bank for Development and Foreign Economic Affairs (Vnesheconombank) and the Development Bank of Kazakhstan have entered into an agreement of intent. In line with the agreement, Vnesheconombank will grant the Kazakhstan-based bank a credit facility of up to $300m for a period of up to 2 years, with a repayment period of up to 15 years. The amount will be repaid in equal semiannual installments. The funds will be used to acquire Russian industrial equipment and implement joint projects in Kazakhstan aimed at integrating the economies of the two countries.
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