ASTANA, Kazakhstan, March 3. On March 3, JSC "National Managing Holding Baiterek" secured its first loan in yuan from the Industrial and Commercial Bank of China (ICBC) as part of its active cooperation with the People's Republic of China, Trend reports via Baiterek.
"Securing a loan in yuan is an important step for the Holding in diversifying financial instruments and strengthening economic interaction with China. We are confident that cooperation with ICBC will open new opportunities for financing key sectors of the economy and increasing Kazakhstan's export potential," said Rustam Karagoishin, Chairman of the Board of the Holding.
This strategic move will strengthen the Holding's position in international markets, diversify currency risks, and enhance investment opportunities for the development of new projects. Securing a loan in China's national currency opens additional prospects for cooperation with Chinese partners and suppliers, as well as facilitating the expansion of export and import operations.
Cooperation with the Industrial and Commercial Bank of China (ICBC) also confirms the trust of the Chinese financial sector in the Holding and its sustainable development. The funds raised will be directed towards financing the agro-industrial sector of the Republic of Kazakhstan to further increase the export of our products to the People's Republic of China.
The expansion of interaction with Chinese financial institutions is in line with the Holding's long-term strategy to strengthen international positions and develop partnerships in global markets.
ICBC is the largest commercial bank in China and the world. It is part of the "Big Four" largest banks in China and controls one-fifth of China's banking sector.