Article 3. Main goals and objectives of the Development Bank of the Law on the Development Bank of Kazakhstan

Home / RLA / Article 3. Main goals and objectives of the Development Bank of the Law on the Development Bank of Kazakhstan

1. The main objectives of the Development Bank's activities are to improve and increase the efficiency of public investment activities, develop production infrastructure and the manufacturing industry, and assist in attracting foreign and domestic investments into the country's economy.

2. The main objectives of the Development Bank are:

1) financing of investment projects through the implementation of operations provided for in Article 7 of this Law (including targeted loans to banks, credit lines) on a medium-term (for a period of five years or more, with the exception of bank guarantees issued for a period of one year or more) and long-term (for a period of ten to twenty years) basis, the acquisition by the Development Bank of bonds, the funds from the placement of which are directed by the issuer for the implementation of investment projects in accordance with the procedure defined by the Memorandum, as well as interim financing to ensure the preparation and implementation of investment projects;

2) financing of export operations through the implementation of operations provided for in Article 7 of this Law (including targeted loans to banks, credit lines, purchase of bonds by the Development Bank, funds from the placement of which are directed by the issuer for the implementation of export operations in accordance with the procedure established by the Memorandum);

3) provision of mezzanine financing, project financing, provision of a syndicated loan, financing of borrowers' current activities within the framework of projects financed by the Development Bank;

4) stimulating lending to the economy of the Republic of Kazakhstan by issuing guarantees for loans provided by other credit institutions, as well as co-financing and interbank lending, issuing loans to lessor organizations, as well as organizations engaged in certain types of banking operations;

5) improvement of project financing mechanisms;

6) other tasks in accordance with the laws of the Republic of Kazakhstan.

The Law of the Republic of Kazakhstan dated April 25, 2001 No. 178.

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Republic of Kazakhstan

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