US Ex-Im Bank and the Development Bank of Kazakhstan (DBK) have announced an intention to sign an agreement that will help facilitate financing of US exports to Kazakhstan.

US Ex-Im and DBK intend to work together to identify and finance projects that are of mutual interest, including projects in Kazakhstan that could benefit from US exports.

DBK and Ex-Im also intend to jointly conduct seminars, conferences, and other events to promote trade and project financing between the US and Kazakhstan, as well as to conduct information exchange and staff training.
Ex-Im Bank’s outstanding loans, guarantees, and insurance commitments involving US exports to Kazakhstan currently total US$469mn.

The Development Bank of Kazakhstan was set up in 2001 by the Kazakh government as a specialised financial institution to provide long-term financing as well as technical assistance to non-extracting sectors and infrastructure that promote the country’s economic development and growth.

Since 2001, DBK has approved 86 investment projects and export transactions for a total amount of US$1.6bn. As of September 1, 2006, DBK’s total asset size has increased to nearly US$1.1bn.