On April 24, 2023 Development Bank of Kazakhstan JSC (a subsidiary of NUH Baiterek JSC, hereinafter – DBK, Bank) signed documents on cooperation with two financial institutions of the Czech Republic within the framework of participation in the Kazakh-Czech business forum which is taking place these days in Astana, DKNews.kz reports.
As a result of the bilateral meetings, a cooperation agreement was signed with Export Guarantee and Insurance Corporation (EGAP) which is the state export insurance company of the Czech Republic. The document is aimed at strengthening cooperation between the two companies to promote trade and investment flows between the Czech Republic and the Republic of Kazakhstan. DBK intends to act as a borrower or a guarantor in transactions between the countries. The total volume of transactions within EGAP insurance coverage can reach up to 150 million euros.
In addition, DBK signed a cooperation agreement with Czech Export Bank (Česká exportní banka, a.s.). The parties expressed their readiness to support trade and other forms of economic cooperation between the two countries, enterprises, and entrepreneurs by providing their programs and available financial instruments.
"The trade turnover between the Czech Republic and Kazakhstan has been steadily growing in recent years. DBK, as a state development institute will make every effort to ensure the cooperation between our countries continues to have positive dynamics and will provide all possible support for this" Nurlan Baibazarov, Chairman of the Management Board of DBK
The Kazakh-Czech Forum is aimed at expanding economic ties between the two countries, developing business contacts and mutually beneficial cooperation between Kazakh and Czech entrepreneurs. The event is attended by the heads of central and local government agencies, national and quasi-state companies, representatives of industry and regional business associations, as well as the heads of leading Czech companies.
