Baiterek Holding signs package of agreements with Chinese financial institutionsKazakhstan's National Management Holding Baiterek JSC has inked a package of agreements with leading Chinese financial institutions during President Kassym-Jomart Tokayev's visit to China, the company’s press service reported.Baiterek and Industrial and Commercial Bank of China (Almaty) concluded a bank loan agreement for 500 million yuan to finance investment projects.Development Bank of Kazakhstan JSC, which is part of Baiterek, and Export-Import Bank of China signed a framework agreement to open a credit line of up to $1 billion (or the equivalent in yuan).Baiterek and ICBC Asia concluded a cooperation memorandum for a bond issuance and a loan facility of 500 million yuan.Another document included a memorandum of understanding for the construction of a gas chemical complex with the participation of Baiterek Venture Fund JSC, Zhaik Petroleum Ltd LLP and Xinjiang Industrial and Commercial Corporation San Bao LLP.The signed documents strengthen the financial base of the Baiterek Group, open new sources of funding in yuan, and support priority projects in industry and infrastructure, the press service said.The agreements were concluded during the 8th meeting of the Kazakhstan-China Business Council in Beijing during President Kassym-Jomart Tokayev's visit to China.National Management Holding Baiterek JSC, organized in May 2013, is an institute of development in Kazakhstan that supports entrepreneurial activities and development of the agricultural complex and carries out housing programs in the republic. The ultimate beneficiary of Baiterek is the government of Kazakhstan. (ICE ALMATY)

Fonte notizia: INTERFAX