EDB and the Kazakhstan-Tajikistan Private Equity Fund declare their intention to jointly finance a large investment project in Tajikistan
Almaty, 12 February 2013. Eurasian Development Bank (EDB) and the Kazakhstan-Tajikistan Private Equity Fund (KTPEF) signed today in Dushanbe a memorandum of cooperation and understanding. The document was signed by Kanat Dosmukametov, Deputy Chairman of the EDB Management Board, and Mukan Sagindykov, Chairman of the Board at KTPEF, during the roundtable on investment cooperation held in the framework of the EDB delegation’s official visit to Tajikistan.
The parties to the memorandum expressed their intention to establish mutually beneficial strategic partnership in order to implement effective investment projects in Tajikistan, advance the financial infrastructure, foster integration and promote trade and economic cooperation between the member countries of EDB and KTPEF.
In particular, the sides declared their interest in financing jointly a large investment project — the construction of the Khujand cement plant with a capacity of 500,000 tonnes of cement a year.
KTPEF intends to finance this project by buying shares of the project initiator to the tune of up to US $8 million and EDB will evaluate the project in order to determine whether it matches the Bank’s mission and strategic objectives.
«The joint fulfillment of this project will help meet the demand for high-quality Portland cement, which is in the highest demand in Tajikistan’s domestic market,» said Kanat Dosmukametov after signing the memorandum. «If the Bank decides to take part in this project its investment can reach US $48 million.»
Additional Information
Eurasian Development Bank is an international financial institution founded by Russia and Kazakhstan in January 2006 with the mission to facilitate the development of market economies, sustainable economic growth and the expansion of mutual trade and other economic ties in its member states. EDB’s charter capital exceeds US $1.5 billion. The member states of the Bank are the Republic of Armenia, the Republic of Belarus, the Republic of Kazakhstan, the Kyrgyz Republic, the Russian Federation, and the Republic of Tajikistan. Read more at https://www.eabr.org.