EDB pro­vides loan fa­cil­ity to Eurasian Bank

The Pak Banker - - Front Page -

ALMATY: Eurasian De­vel­op­ment Bank ( EDB) signed an agree­ment in Almaty to pro­vide a five-year re­new­able loan fa­cil­ity to Eurasian Bank (Kaza­khstan) for a to­tal of US $7 mil­lion. This is EDB’s first project in Kaza­khstan im­ple­mented in the frame­work of its Trade Fi­nance Pro­gramme. The funds will be used to fi­nance for­eign trade transactions of this com­mer­cial bank’s clients in the EDB mem­ber states. Fi­nanc­ing may be pro­vided in the rou­bles, euro, US dol­lars or in the cur­ren­cies of the CIS coun­tries. The agree­ment has the aim to en­hance ex­ter­nal sources of fund­ing pro­vided by Eurasian Bank to its clients who are en­gaged in for­eign trade. On the other hand, it will help ex­pand mu­tual trade be­tween the EDB mem­ber states and pro­mote deeper in­te­gra­tion be­tween them. Fi­nanc­ing ex­port and im­port transactions of clients of our part­ner banks is aimed at en­hanc­ing mu­tual trade and de­vel­op­ing cor­po­rate ties and part­ner­ship be­tween them, Dmitry Krasil­nikov, Manag­ing Di­rec­tor for Cor­po­rate Fi­nance and Mem­ber of the EDB Man­age­ment Board, says.

Newspapers in English

Newspapers from Pakistan

© PressReader. All rights reserved.