EDB provides a US $10 million loan facility to Bank CenterCredit for trade finance
Almaty, 25 November 2016. Eurasian Development Bank (EDB) provided a US $10 million revolving loan facility to Bank CenterCredit. Finance under the facility may be extended for three to twelve months. The respective agreement was signed on November 25th 2016 by Dmitry Ladikov-Roev, Managing Director for Assets and Liabilities at EDB, and Vladislav Lee, Chairman of the Management Board at Bank CenterCredit.
The loan will be used to finance foreign trade transactions of Bank CenterCredit's clients in the EDB member states, in particular export and import transactions between the member countries. Finance may be extended in the US dollars, euros, tenge or Russian roubles.
The agreement will help to promote mutual trade between the EDB member states and foster their integration. "We are happy to cooperate with Bank CenterCredit and believe that the project will help to create favourable conditions for the sustainable development of business and trade, job creation, and higher tax revenues by supporting export and import transactions with the participation of Kazakhstan's businesses," Dmitry Ladikov-Roev commented.
"Our long-term cooperation with EDB confirms trust in our bank and will help to finance export and import transactions between the EDB member states," Vladislav Lee said.
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. Read more at https://eabr.org/
Bank CenterCredit was founded in 1988 and for almost thirty years has been one of Kazakhstan's leading banks, with a steady position among the country's top five banks in terms of assets, deposits and the loan portfolio.
The bank's mission is to develop small and medium-sized businesses and support the middle class in Kazakhstan and the CIS countries. Bank CenterCredit provides the full range of banking services and products and is deservedly considered a recognised, experienced and responsible international financial institution.
Today, Bank CenterCredit offers the full range of financial services, which are in demand in the market, expands its line of products, and studies and promotes financial engineering. The bank creates all possible conditions to provide comfortable services to its corporate and private clients.
EDB Media Center:
+7 (727) 244 40 44 ext. 6147 (Almaty)
+7 (495) 645 04 45 ext. 2732 (Moscow)
e-mail: pressa@eabr.org