Free Trial

Trade Finance Magazine Copying and distributing are prohibited without permission of the publisher

EBRD declares new strategy for Kazakhstan

08 February 2010

The European Bank of Reconstruction and Development has announced a new strategy to support Kazakhstan, which does not involve either Alliance Bank or BTA Bank.

Read more: [EBRD Kazakhstan] [Alliance Bank BTA Bank] [Kazakhstan European Bank of Reconstruction and Development] [Kazakhstan]

The European Bank of Reconstruction and Development (EBRD) has announced a new strategy to support the Kazakh economy over the next three years which does not involve either Alliance Bank or BTA Bank.

The EBRD will be assisting the country in its efforts to diversify its economy and develop a more sustainable financial model, which are indispensable for the country’s long-term transition to market economy.

In order to promote sustainability of the local banking sector, the EBRD will support the development of local currency and capital markets in Kazakhstan through engagement with...


Poll

Gazpromneft stunned the market this week when it was revealed pricing for their five-year $1 billion pre-export financing was rumoured to be just above 300 basis points over Libor. Is the deal likely to be a syndication success?

Yes - this seems like a sensible pricing benchmark, why not?
9%
No - are you crazy? These prices are ridiculous. What were these banks thinking?
27%
Yes - but for all the wrong reasons. A lack of other deals in the market, and the promise of future business with Gazpromneft will make it hard to ignore but don’t expect many to take up big tickets with this deal. There are much better deals out there.
64%

Quote

Until credit sanctioners can escape from their investment grade comfort zone, they’ll never enable the full potential of an STCF approach to be felt.

Aidan Applegarth, independent banking consultant - Commodity banks bounce back, December 2009