OREANDA-NEWS. October 27, 2010. Kambar Shalgimbayev, Deputy Chairman of the EDB Executive Board, and Marat Kalizhanov, Director of Corporation AIC-Invest, signed a loan agreement to finance procurement of grain harvested in 2010-2012 and supposed to be exported, reported the press-centre of KASE.

Under this project, some 167,000 tonnes of grain will be purchased from farmers in Akmola, Kostanai and North Kazakhstan Oblasts. This grain will be exported to neighbouring countries, mainly EDB members (90%), first of all Tajikistan.

This loan facility of USD 50 million will be provided for 36 months.

The project is fully in line with the EDB's mission and strategy, since it will have a positive effect on sustainable economic development of Kazakhstan by supporting export-orientated production.

The project will also have a strong effect on integration by supporting mutual trade, common grain markets of Kazakhstan and Tajikistan, and sustained commodity flows.
                                                                            
This is the third investment project of the EDB and Corporation AIC-Invest. In December 2009 the Bank provided a USD 50 loan to this large Kazakh agribusiness holding company for purchasing grain harvested in 2009.

Earlier, in May 2008, the Bank provided Corporation AIC-Invest a three-year, \\$70.6-million facility for purchasing farm machinery with subsequent leasing to grain producing farms.