July 4 2002, 17:18 ITAR-TASS

EBRD provided US $100mn for agricultural development of Kazakhstan

EBRD provided US $100mn for agricultural development of Kazakhstan. Half of this amount will go to Komerzbank and another half to Turan-Alem Bank, who will provide credits to agribusinesses using commodity stocks as a collateral. This credit, according to EBRD, will open new possibilities for improving efficiency and competitiveness of agribusiness in Kazakhstan. Another US 7.5mn were provided to another two of Kazakh banks for the same purposes.