Kazkommertsbank (Kazakhstan) announces results of implementing projects under memorandum on public-private partnership with Almaty city administration and signs new memorandum

/KASE, November 19, 12/ - JSC "Kazkommertsbank" (Almaty), whose securities are officially listed at Kazakhstan Stock Exchange (KASE), has provided KASE with the following press-release of November 16, 2012: quote At the meeting of Almaty Akim Ahmetzhan Esimov with leading Kazakhstan banks, Kazkommertsbank has reported on implementation of projects within the framework of the Memorandum between the Akimat and Kazkommertsbank, signed in August 2011 for decision of the issues of social and economic development of the city. A successful experience of the state-private partnership has formed the basis for conclusion of the new Memorandum for 2013-2014with the southern capital Akimat, and now 8 more banks have joined this initiative. "Last year the Almaty Akimat and Kazkommertsbank concluded the Memorandum of Cooperation within the framework of the state-private partnership. By results of the successful cooperation the Memorandums with already 9 banks have been prepared for 2013-2014 to integrate efforts on development of one of the largest cities in Kazakhstan" - said Akim Ahmetzhan Esimov n his speech. Under the Memorandum 2011 Kazkommertsbank has implemented projects on housing-building, construction of infrastructure facilities, development of small and medium business for a total sum of financing 159 billion tenge. On October 1, 2012 about 60 billion tenge has been drawn, 27 billion tenge of them for housing-building, more than 17 billion tenge for construction and completion of infrastructure facilities, about 15 billion tenge for financing of small and medium business and mortgage lending. As a result 5 thousand working positions have been created, and there will be constructed 957 thousand sq.m. of total housing area (5 159 flats) and more than 300 thousand sq.m. of infrastructure, tourism and sport facilities. Besides, supporting socially vulnerable populations of Almaty, Kazkommertsbank has held a number of charitable actions with the view of purchasing the equipment for treatment of children with cerebral paralysis. The bank has also allocated funds for supporting veterans, disabled children, physically challenged businessmen, and financially supported the rectification of hurricane consequences in Mede natural landmark. "We highly appreciate the Akimat's cooperation with Kazkommertsbank within the framework of this Memorandum. The projects implementation will give a new impulse to the business activity, a further development of our city and improvement of the citizens' life quality" - said Nina Zhusupova, chairman of the Kazkommertsbank Management Board. The new Memorandum, signed during the ceremony between Kazkommertsbank and the Almaty Akimat, includes implementation of specific projects connected with the "Affordable Housing" government program, supporting of small and medium business, provision of urban amenities and ecology improvement. As a result another 4,5 thousand new working positions are expected. Eight other banks - Halyk, BTA Bank, Bank CentrKredit, Alyans Bank, Sberbank, Cesnabank, Temirbank and kaspi bank - have also signed the framework memorandums with the Akimat. For contacts: The Kazkommertsbank Press-service, tel. 2585-105, ext. 57775, 57613, 57611. unquote [2012-11-19]