Subsidiary Bank Sberbank of Russia provides KZT4 bn in funds to manufacturing industry enterprises

10.12.14 16:29
/KASE, December 10, 14/ – Subsidiary Bank "Sberbank of Russia" JSC (Almaty), whose bonds are officially listed on Kazakhstan Stock Exchange (KASE), today provided KASE with the following press-release: quote Volume of funding in 4 billion tenge is allocated by Kazakhstan Development Bank (KDB). Financing of projects will be carried out as part of the entrepreneur subjects support program in the sphere of manufacturing industry. These funds were allocated from the National Fund within the second tranche from 1 trillion tenge intended for development of economy and sale of infrastructure projects of the country. The total amount was 100 billion tenge, 50 bln. tenge out of which are placed through Kazakhstan Development Bank JSC. "Sberbank is the constant participant of interbank lending programs and we thank Kazakhstan Development Bank for their trust again. This year the bank in advance used 11 billion tenge allocated by KDB, having financed 5 large projects in such spheres as mechanical engineering, metallurgy, chemistry, petrochemistry, food industry for the total amount of 15,7 billion tenge, having invested 4,7 billion - own funds of Sberbank. It is a good example of cooperation of state and commercial banks for sale of new projects. We are sure that through joint efforts, we can positively influence on improvement of economic indicators of the country. Within a new tranche, the enterprises of real sector of economy will obtain financing for sale of investment projects", - Chairman of the Management Board of Sberbank in Kazakhstan Alexander Kamalov noted. For additional comments, you can always contact the press-service of Bank: SB Sberbank JSC Yekaterina Kupreyeva +7 (727) 266 35 68 (ext. 502 499) mobile +7 702 18 16 127 e-mail: yekaterina.kupreeva@sberbank.kz unquote [2014-12-10]