OREANDA-NEWS. November 23, 2011. The Eurasian Development Bank (EDB) will provide a USD 44-million loan for the  construction of a hotel and office estate in Astana by a Russian investor. A respective agreement was made in Moscow today between the EDB and Astanapromstroi-M (a subsidiary of Mospromstroi), which is implementing this project in Kazakhstan. The loan will be provided for ten years, reported the press-centre of KASE.

The documents were signed by Gennady Zhuzhlev, Deputy Chairman of the EDB Executive Board (on the right), and Alexei Petukhov, Director of Astanapromstroi-M.

The estate to be built in Astana will include Marriott hotel facilities and, in addition, host exhibitions, conferences and other business events. The hotel will have 283 rooms. Construction is being performed by Kazakh contractors based on tenders.