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Press-center

27.03.2017
13:36

Eximbank of Russia finances supplies of passenger cars to Kazakhstan

Eximbank of Russia (part of the Russian Export Center) opened a line of credit for JSC DBK-Leasing (a subsidiary of JSC Development Bank of Kazakhstan, part of JSC Baiterek National Management Holding) for purchasing passenger cars. The project will help upgrade the currently available fleet of ARLAN TRANS ASTANA Limited Liability Partnership and TURKSIB ASTANA Limited Liability Partnership engaged in passenger transportation. Upgrade of the rolling stock will enable passenger transportation on most socially important routes: Kostanay - Qaraghandy, Kostanay - Arkalyk, Kostanay - Almaty, Kyzylorda - Petropavlovsk.

Roman Smagin, Deputy Chairman of the Board of Directors at JSC EXIMBANK of Russia: “We place special emphasis on supporting export of the high-technology products and services. Railways also fall within this field. In the framework of the specialized program that we are implementing together with the Ministry of Industry and Trade of the Russian Federation, crediting of such projects implies subsidizing of the interest rate, which is undoubtedly appealing for both the Russian producer and our partners from Kazakhstan. Combined with quick decision-making and transparency of the business process, this helps build efficient cooperation among all the transaction participants and achieve the desired result within a short period of time. All the project participants already have extensive work experience and know a lot about the export financing instruments. This gives us hope for mutually beneficial cooperation in the future.”

Nurlan Baibazarov, Chairman of the Board of Directors of SC DBK-Leasing said, “In the framework of the task on diversification of the financing sources, the long-term line of credit from JSC EXIMBANK of Russia was used to purchase state-of-the-art passenger cars manufactured by OJSC Tverskoy Vagonostroitelniy Zavod. This debut transaction between JSC DBK-Leasing and JSC EXIMBANK of Russia uncovers the potential of using extrabudgetary investments into transport infrastructure and will promote an increase in mutual trade. Implementation of the project will help decrease the deficiency in the passenger car fleet and conduct passenger transportation in comfortable cars.”

JSC DBK-Leasing is a subsidiary of JSC Development Bank of Kazakhstan and a part of JSC Baiterek National Management Holding. The company provides lease financing for investment projects in the framework of implementation of state programs on industrial, innovational and infrastructural development Nurly Zhol.