EDB extends a RUB 1.27 billion loan facility for RG Brands Kazakhstan
Almaty, 29 May 2015. Eurasian Development Bank (EDB) and RG Brands Kazakhstan (RG BK) signed a loan agreement to finance the development of RG Brands Group (comprising the borrower, RG Brands Kazakhstan).
The document was signed by Murat Alkenov, Executive Project Director at EDB, and Alibek Ungarbayev, Financial Director at RG BK.
In accordance with the agreement, EDB will provide RUB 1.27 billion for three years. The loan will help to increase the company’s exports to neighbouring countries. It is envisioned that the main sales will be in Russia and Kazakhstan.
”This project is peculiar in that this is the first transaction with insurance coverage. Insurance is provided by KazakhExport, an export credit agency. It is also important to us that we cooperate with Kazakhstan’s leading food producer, RG BK,” says Murat Alkenov. “The project has an integration component and this makes it concordant with EDB’s strategy. In particular, it will promote mutual trade between the Bank’s member countries: exports to neighbouring countries are expected to comprise over 25% of the company’s sales.”
“The finance we receive from EDB will help RG Brands Kazakhstan to enhance exports within three years,” Alibek Ungarbayev comments.
Additional Information:
Eurasian Development Bank (EDB) 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 totals US $7 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.
RG Brands Kazakhstan is part of RG Brands. It manufactures drinks such as Gracio, DaDa, Asu, Lipton Ice Tea, Pepsi and food products in Kazakhstan. RG Brands Kazakhstan has been rated B2 (Stable) by Moody’s Investors Service.
KazakhExport is an export credit agency included in the list of national companies by Resolution 112 of the Government of Kazakhstan on 10 March 2017.
EDB Media Center:
+7 (727) 244 40 44 ext. 6147 (Almaty)
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e-mail: pressa@eabr.org