Bank Hapoalim has secured a credit line with Kazakhstan’s Bank TuranAlem (BTA) for financing the export of capital goods and support services from Israel to Kazakhstan. The credit facility is insured by the Israeli export credit agency Ashra.

The credit line will be provided to BTA in the form of buyers’ credit to be on-lent to Kazakh businesses to support the purchase of Israeli goods and services. Up to 85% of the export transactions will be financed by the credit line.

Commenting on the transaction, Jacob Orbach, manager of Bank Hapoalim’s corporate division says: “This agreement represents yet one more of the credit lines which Bank Hapoalim operates for leading banks worldwide. The increased cooperation with Bank TuranAlem will provide the opportunity for additional financing solutions for Israeli exporters operating in Kazakhstan and the countries of the CIS.”