EDB provides loan facility to Eurasian Bank

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.