The EDB extends US $36.5 million for Altynalmas to enhance its resource base

11 June 2018

Almaty, 11 June 2018. The Eurasian Development Bank (EDB) financed the acquisition and additional exploration by Altynalmas of the Dolinnoye gold deposit in Karaganda Region, Kazakhstan, for its further development. A loan of US $36.5 million has been provided for seven years.

The project is in the mining and metallurgy sector, one of the Bank’s investment priorities. Advancing the sector is an important objective included in Kazakhstan’s Strategic Development Plan until 2025.

Altynalmas is a major gold producer in Kazakhstan. The company mines several gold deposits, including the Akbakai cluster in Zhambyl Region and the Balkhash cluster in Karaganda Region.

The funds extended by the EDB will help to enhance Altynalmas’s production capacity, as well as stimulate economic development and job creation in the region.

Additional Information:

The 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. The 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.

The EDB Media Centre:

Alexander Savelyev +7 985 765 23 59 (Moscow)                                         

Azima Sapargaliyeva +7 777 750 00 08 (Almaty)

Sergey Gorbachev +7 916 727 22 00 (Moscow)                                 

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