Eurasian Development Bank and "Kazyna Capital Management" sign co-op agreement

11 September 2018 17:57 (UTC+04:00)

By  Trend

The Eurasian Development Bank and the Kazyna Capital Management JSC of Kazakhstan have signed a cooperation agreement within the framework of long-term mutually beneficial partnership, the message posted on the website of the Eurasian Development Bank says.

The agreement is aimed at the implementation of projects in the priority sectors of the economy of Kazakhstan, such as energy, engineering, infrastructure, industry and others.

The document has been signed by the Chairman of the Management Board of KCM Ardak Kasymbek and the Deputy Chairman of the Management Board of EDB Amangeldy Issenov.

"The agreement provides an opportunity for potential and existing projects of the EDB and KCM to receive additional funding into capital, including the funding in the national currency, which will significantly improve the conditions for the implementation of projects," Ardak Kasymbek said, following on from the successful experience of a number of projects within the framework of the existing co-investment agreements with other large investors, such as Mubadala (UAE).

EDB and "KCM" noted that the cooperation involves not only the financing of individual investment projects, but also the exchange of experience and knowledge through participation in educational, information and other events organized by the parties.

The Eurasian Development Bank (EDB) is an international financial organization established by Russia and Kazakhstan in January 2006 to facilitate the development of market economy of the member states, their sustainable economic growth and expansion of mutual trading-economic relations. The authorized capital of the EDB is $7 billion. The member states of the bank are Armenia, Belarus, Kazakhstan, Kyrgyzstan, Russia and Tajikistan.

The Kazyna Capital Management ("KCM") JSC is a private equity fund, established in 2007 to promote sustainable development of the national economy of Kazakhstan. The funds of the KCM family provide capital to companies in various sectors of the economy for the purpose of further growth and improvement of competitiveness.

"Kazyna Capital Management" together with international institutional investors effectively manages 13 private equity funds, the total capitalization of which is $2.4 billion. "KCM" is a part of JSC "National Managing Holding "Baiterek"”.

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