BAKU, Azerbaijan, May 31
By Nargiz Sadikhova - Trend:
Kazakhstan’s Development Bank (DBK) in order to finance the program of preferential car loans, sent the next tranche for car loans in the amount of 20 billion tenge ($48.5 million) to country’s second-tier banks (STB), Trend reports with reference to DBK.
By issuing bonds, DBK borrowed 20 billion tenge ($48.5 million) from Kazakhstan Sustainability Fund JSC (KSF), in accordance with resolution No.79 of the Management Board of the National Bank dated May 31, 2019.
To date, commercial banks have received funds in the following amounts:
- Sberbank Kazakhstan received 8 billion tenge ($19.4 million);
- VTB Bank JSC (Kazakhstan) received 5 billion tenge ($12.1 million);
- Fortebank JSC received 5 billion tenge ($12.1 million);
- Halyk Bank of Kazakhstan JSC received 2 billion tenge ($4.8 million).
Thus, since 2015, DBK has allocated six tranches of funds totaling 82 billion tenge ($199.2 million) to finance the program of preferential car loans.
Development Bank of Kazakhstan JSC (DBK) is a national development Institute for the modernization and development of non-resource and infrastructure sectors of the economy of Kazakhstan, established in 2001.
Main activities: development of production infrastructure and manufacturing industry, promotion and attraction of foreign and domestic investment in the country's economy. DBK is one of the largest investment operators of State program of Accelerated Industrial and Innovative Development of the Republic of Kazakhstan (SPIID). DBK is a part of Baiterek National Managing Holding JSC.
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