The EDB provides a US $20 million loan facility to Alfa Bank for trade finance
Almaty, 1 March 2018. The Eurasian Development Bank (EDB) and Alfa Bank signed an agreement to finance foreign trade transactions of Alfa Bank’s clients. The agreement envisages that the funds should be used primarily in the EDB member states. The signatories were Dmitry Ladikov-Roev, Managing Director for Assets and Liabilities at the EDB, and Alina Anikina, Chair of the Management Board at Alfa Bank.
The EDB will provide US $20 million for five years. Sub-loans may be extended for three to twelve months in the US dollars, euro, tenge or Russian roubles.
“The project can foster the development of corporate connections and business partnerships in the Bank’s member states as regards trade in machinery, parts and components, feedstock and equipment and this should create prerequisites for the development of joint ventures,” Dmitry Ladikov-Roev commented.
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.
Alfa Bank (Kazakhstan) is a member of the Alfa Bank international banking group headquartered in Luxembourg and comprising banks from Kazakhstan, Russia, Ukraine, Belarus and the Netherlands. Alfa Bank offers all types of banking services through its online banking and branches in fourteen cities of Kazakhstan. It serves private clients, small businesses, as well as medium- and large-sized Kazakh companies.
The EDB Media Centre:
+7 (727) 244 40 44, ext. 6147 (Almaty)