The Eurasian Development Bank (EDB) has opened a US$20mn credit line to finance the supply of agricultural machinery to Kazakhstan.

The borrower is Kaz Agro Finance (KAF) and at least 80% of the finance will be used to finance imports of machinery from other EDB member states.

GTR can confirm that the facility has a tenor of five years and the option to drawdown in US dollars or Kazakh tenge. The EDB will issue guarantees to KAF’s creditors.