BAKU, Azerbaijan, May 19
By Nargiz Sadikhova - Trend:
Kazakhstan could play an important role in further developing infrastructure under the Belt and Road Initiative, the Deutsche Bank official told Trend.
Deutsche Bank has been doing business in Kazakhstan for more than 27 years, having opened its representative office in Almaty in 1993.
The bank official emphasized that Deutsche Bank’s business strategy for Kazakhstan is a long-term strategy, focused on helping to develop the local capital market and attracting new foreign direct investments into several sectors of Kazakhstan’s economy.
“In May 2017, China Development Bank (CDB) and Deutsche Bank signed a memorandum of understanding to work together over the next five years to support projects worth $3 billion– projects that open up business opportunities to our global clients in the infrastructure, commodities, and renewable energy sectors,” the official said.
In the same year, under the scope of the Belt and Road Initiative, a consortium of international banks led by Deutsche Bank provided a buyer credit to finance an oil refinery facility in Kazakhstan with the involvement of the Sinosure Export Credit Agency (ECA).
“There are a number of factors affecting trade finance in the country, one being the emergence of the Belt and Road Initiative. Kazakhstan, as the largest country in Central Asia and one of China’s biggest neighbors, stands to benefit from the new Belt and Road Initiative and could play an important role in further developing infrastructure under the initiative,” the official said.
Deutsche Bank provides retail and private banking, corporate and transaction banking, lending, asset and wealth management products and services as well as focused investment banking to private individuals, small and medium-sized companies, corporations, governments, and institutional investors.
Deutsche Bank is the leading bank in Germany with strong European roots and a global network.
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