To attract investments in the real sector of the economy

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DBK and "Almex" agreed to address jointly issues of co-financing of projects and attraction of foreign investment

JSC "Development Bank of Kazakhstan (subsidiary of JSC "National Holding "Baiterek") and JSC "Holding Group "Almex" signed an agreement on cooperation in matters of co-financing projects and attraction of foreign investments into the economy of Kazakhstan. The document was signed by the Chairman of the Board of DBK Bolat Zhamishev and the Chairman of the Board "Almex" Mazhit Yessenbayev.

Thus, DBK will work on issues of cooperation directly with "Almex", and affiliated companies of the holding - LLP "Almex Project” and LLP “Almex-Baiterek Fund” (a private equity fund, the investors of which on a parity basis is a subsidiary of JSC "Baiterek" – JSC "Kazyna Capital Management" and LLP "Almex project ").

"As part of the transformation of its activities, DBK intends to expand the range of its financial instruments, in compliance with the current needs of our customers. Cooperation between Development Bank of Kazakhstan and the country's largest private financial holding company will direct synergy of competence, accumulated by "Almex" in equity financing and DBK - in the provision of long-term debt on the development of non-oil economy, the implementation of capital-intensive projects in the manufacturing sector, including food production", - said the Chairman of the Board of DBK Bolat Zhamishev.

In turn, Chairman of the Board "Almex" highly appreciated the potential of the DBK. "The development of public-private partnership with the largest state financial institution, as the Development Bank of Kazakhstan, which invests in major projects and has gained experience in conducting detailed assessments of the project and further effective monitoring of its implementation, will be a great help for the realization of investment projects in various industries and sectors of the country's economy", - summed up Mazhit Yessenbayev. In his opinion, "this experience will be attractive for other private financial institutions, intending to invest in the real economy".

The parties agreed to establish a joint working group which will be engaged in the search and selection of projects for the joint development, the definition of financing mechanisms, including direct investments or loans, monitoring the results of cooperation.

For reference:

"Almex" is a financial holding company, which carries out investment activities in the financial market, including the banking and provides through its subsidiary JSC "Halyk Bank of Kazakhstan” banking services to corporate and retail customers in Kazakhstan, Russia, Kyrgyzstan, and the company "JSC "Insurance Broker AON Kazakhstan".

JSC "Development Bank of Kazakhstan" (DBK) - National Institute of Development for modernization and development of non-extractive and infrastructure sectors of the economy of Kazakhstan, established in 2001, DBK is part of the JSC "National Holding "Baiterek". Main directions of its activity: development of industrial infrastructure and manufacturing, promoting and attracting foreign and domestic investment in the economy. DBK acts as one of the largest investment operators of the state programs of industrial-innovative development.