The EDB plans to finance KAMAZ’s project in Kazakhstan

17 February 2021

Moscow, 17 February 2021. Nikolai Podguzov, Chairman of the Management Board of the Eurasian Development Bank (EDB), and Sergey Kogogin, Director General of KAMAZ, signed preliminary indicative terms of financing the development of the model range and the upgrade of production facilities of Russia’s largest automobile corporation. According to the document, the Bank will provide a five-year loan facility for a total of RUB 12 billion, in particular to set up the production of axle drives and a foundry in an industrial zone in Kostanai (Kazakhstan). The foundry will manufacture axle casings, cylinder blocks, and cylinder heads for the new K5 generation trucks.

All products will be delivered to KAMAZ’s main assembly facilities in Naberezhnye Chelny (Russia).

In November 2018, the EDB provided over RUB 9.5 billion to KAMAZ. In this transaction, the Bank used equity and bond instruments to help KAMAZ develop an optimal fundraising structure.

“KAMAZ is setting up a plant in Kazakhstan and its products will be used at the automobile giant’s main production facilities in Russia. We have all the necessary expertise and experience in both Kazakhstan and Russia. We are therefore ready to support our partners at all stages of project implementation, including technical assistance,” said Nikolai Podguzov, Chairman of the EDB Management Board.

Additional Information:

The Eurasian Development Bank (EDB) is an international financial institution promoting integration and development in its member countries – Armenia, Belarus, Kazakhstan, the Kyrgyz Republic, Russia, and Tajikistan. The EDB's charter capital totals US $7 billion. The Bank was established in January 2006 by Russia and Kazakhstan and is headquartered in Almaty. Transport infrastructure, energy, chemical, mining, and mechanical engineering projects with a high integration effect account for the main part of the EDB’s portfolio.

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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