NEWS MEDIA ADVISORY
Kazakhstan’s Development Bank and US Ex-Im Bank to Sign MOU and Finance Projects Jointly
WASHINGTON, DC - Askar Sembin, President of the Development Bank of Kazakhstan (KDB), and United States Ex-Im Bank Chairman James Lambright will sign a Memorandum of Understanding (MOU) between their two organizations on April 12 opening the way for joint financing of projects in Kazakhstan of mutual interest that could benefit from U.S. exports.
The two banks play similar roles in their countries, supporting exports and export-oriented businesses.
KDB is one of the institutes of development in Kazakhstan established in 2001 to identify and finance promising projects in diverse sectors of the economy. Hundred percent state owned KDB is engaged in what it calls “Engineering of a New Economy” and has already approved financing for 40 investment projects and 46 export operations worth two billion dollars. The Bank estimates its participation in these projects at 808 million dollars.
The Export-Import Bank of the United States has completed nearly 11,000 financial transactions totaling 65.5 billion dollars in the last five years.
Announcing the signing of the memorandum, the Ex-Im Bank said: “The MOU is intended to develop and expand the framework of cooperation and partnership between the two parties. Under the MOU, Ex-Im Bank and KDB will work together to identify and finance projects that are of mutual interest, including projects in Kazakhstan that could benefit from U.S. exports.”
The signing ceremony will take place as part of the 29th annual Ex-Im Bank conference at 12.30 pm on April 12 in the Regency Ballroom of the Omni Shoreham Hotel, in Washington, DC.
WHAT:Signing of Memorandum of Understanding between the Development Bank of Kazakhstan and the Export-Import Bank of the United States
WHEN: April 12, 2007, 12.30 pm
WHO: Askar Sembin, President of Development Bank of Kazakhstan and
U.S. Ex-Im Bank Chairman James Lambright
WHERE: Regency Ballroom, the Omni Shoreham Hotel, 2500 Calvert Street NW
(at Connecticut Ave.), Washington, DC
News Bulletin of the Embassy of the Republic of Kazakhstan to the USA and Canada
(Compiled from own sources and agency reports)
Contact person: Roman Vassilenko
1401 16th Street NW, Washington DC 20036
Tel.: 202 232 5488, ext. 104, Fax: 202 232 5845