DBK and ALMEX agreed on cooperation in joint projects financing and foreign investments attraction
In accordance with the Agreement the parties agreed to consider the opportunity of joint investment projects financing in various fields of Kazakhstan economy, assist in attracting investment by transnational corporations and foreign companies with high technology. DBK will engage in cooperation, both directly with ALMEX and Holding affiliates – Almex Project LLP and Almex-Baiterek Fund LLP (private equity fund which investors are subsidiaries of Baiterek JSC –Kazyna Capital Management JSC, as well as Almex Project LLP on a parity basis).
“Within its transformation activities KDB intended to extend the range of financial instruments, as this meets the current needs of our customers. Cooperation between Development Bank of Kazakhstan and the country's largest private financial holding would dispatch a synergy of competences acquired by ALMEX in shred financing and DBK in providing long-term borrowed capital to development of non-commodity economy, implementation of capital-intensive projects in manufacturing, including food production”, – noted the Chairman of the Board of DBK Bolat Zhamishev.
In its turn, as noted by the Chairman of the Board of ALMEX "development of public-private partnership together with the largest state financial institution as DBK investing in major projects and having broad experience in conducting detailed examinations of project and further effective monitoring of its implementation, will be a major asset for investment projects in various industries and sectors of the economy of the country.”
“Undoubtedly, this experience will be attractive for other private financial institutions willing to invest in the real economy,” – expressed confidence Mazhit Yesenbayev.
In order to search and select projects for joint development, defining funding mechanisms, including direct investments or loans, monitoring results of cooperation the parties shall create a joint working group that will be managed on behalf of DBK by the Deputy Chairman of the Board Abai Sarkulov.