Spain’s Banco Santander to fund €400 mln for strategic projects in KazakhstanThe Development Bank of Kazakhstan (DBK) and Spain’s Banco Santander have signed a framework cooperation agreement on export financing worth €400 million, according to a press release from DBK.The agreement was signed during the 8th meeting of the Kazakhstan-Spain Business Council in Madrid."Under the agreement, Banco Santander will provide DBK with financing of up to €400 million under the insurance coverage of export credit agencies. The funds will be used to finance strategic projects involving international exporters," the press release says.DBK hopes that this partnership will allow Kazakhstan to attract advanced technologies, to modernize infrastructure and to strengthen international economic ties.During their visit to Spain, the Kazakh delegation also held discussions with the leadership of largest Spanish companies, including Xcalibur and Barceló Hotel Group Ávoris. The delegation toured the facilities of Parque Tecnológico de Valdemingómez and Innovaciones Imabe S.L.U.Grupo Santander is the largest financial group in Spain. In addition to its strong presence in Spain, Santander holds a leading position in the UK and several Latin American countries, as well as in the US. Its largest subsidiary is Banco Santander, headquartered in Santander.Development Bank of Kazakhstan (DBK) was organized in 2001. The bank finances medium- and long-term investment projects in infrastructure and non-resource sectors and attracts external and internal investment in the republic. DBK is part of National Managing Holding Company Baiterek, which was created in May 2013 to manage the stakes in the national institutes of development, the national companies and other legal entities. Baiterek either owns such stakes or manages them on behalf of the other stakeholders. (ICE ALMATY)

Fonte notizia: INTERFAX