Development Bank of Kazakhstan JSC and the Italian national development institution Cassa Depositi e Prestiti (CDP) have executed a credit agreement amounting to €200 million, DKnews.kz reports
The financing will be facilitated with a guarantee from the Italian export credit agency SACE in favor of DBK.
This marks CDP's inaugural transaction in Kazakhstan. The funds will be allocated to the development of key sectors of the economy that contribute to the country’s sustainable growth. Particular emphasis will be placed on priority areas such as renewable energy, energy efficiency, transportation, healthcare, and water supply infrastructure.
"The agreement with Cassa Depositi e Prestiti represents a pivotal milestone in fostering investment inflows from European nations into Kazakhstan. This collaboration engenders enhanced conditions for economic engagement between Kazakhstan and Italy, reinforcing connections with private enterprises in both countries and facilitating a rise in trade volume across strategically vital sectors" Vladimir Lee, Deputy Chairman of the Management Board of DBK
The signing of the agreement represents a logical extension of the economic initiatives that emerged during the official visit of President Kassym-Jomart Tokayev of Kazakhstan to Italy in January of this year.
