Kazakhstan Development Bank gains HSBC 500 mln euro credit line
ASTANA. KAZINFORM Development Bank of Kazakhstan and HSBC Bank plc signed a framework agreement to facilitate long term financing with participation of export credit agencies.
According to the agreement, HSBC Bank plc opens for Kazakhstan Development Bank a credit line to the amount of EUR 500 million under the coverage of export credit agencies of different countries, the Bank's official website reports. "DBK considers HSBC Bank plc as a reliable partner. The agreements reached will allow the Bank to expand opportunities for long-term (10 years) financing of major projects in priority economy sectors, including infrastructure development," said Acting Chairman of Kazakhstan Development Bank Board Askar Dostiyarov. Established in 2001, Development Bank of Kazakhstan is the national development institute for modernization and development of non-commodity and infrastructure sectors of the economy of Kazakhstan.