Board of Directors of EIC KazakhExport JSC Approved Entry into Loan Insurance Contracts for a Total Amount of 52 Billion KZT
Enterprises of machine-building, metallurgical and fat-and-oil industries from different regions of Kazakhstan will receive export support.
Today, the Board of Directors of Export Insurance Company KazakhExport JSC held its offline meeting in Nur-Sultan. Minister of Trade and Integration of the Republic of Kazakhstan Bakhyt Sultanov has chaired the event.
The meeting has covered a number of outstanding issues. They included information related to analysis of the insurance portfolio of ESC KazakhExport JSC in the breakdown of industries. It has approved 2022 maps of key performance indicators of members of the Management Board of JSC ESC KazakhExport, 2022 Matrix of business processes, risks and controls of the Company, 2022-2026 Strategy for development of information technologies of the Company.
The Board of Directors has approved the following:
- entry into a voluntary loan insurance agreement between EIC KazakhExport JSC, SaryarkaAvtoProm LLP and Eurasian Bank JSC for an amount of 15 billion tenge;
- entry into a voluntary loan insurance agreement between EIC KazakhExport JSC, EkibastuzFerroAlloys LLP and Development Bank of Kazakhstan JSC for an amount of 33 billion tenge;
- entry into a voluntary loan insurance agreement between EIC KazakhExport JSC, Altyn Shyghys LLP and AOM SDF 1 B.V. for an amount of 4 billion tenge.
Funds raised by the exporting enterprises will be used to increase purchase of components for production of cars, raw materials for an oil extraction factory, implementation of a project for construction of a ferroalloy plant in Ekibastuz, Pavlodar Region, with an annual production capacity of 240,000 tons of products.
For reference:
Export Insurance Company KazakhExport JSC (a part of NMH Baiterek JSC) is subordinate to the Ministry of Trade and Integration of the Republic of Kazakhstan dealing with promotion of export of non-primary goods and services. Export Insurance Company KazakhExport JSC has a mission to support growing export of non-primary goods, works, services in priority sectors of economy and generate practice of financial and insurance and non-financial support of Kazakhstan’s enterprises.
SaryarkaAvtoProm plant is the largest car maker in Kazakhstan. It is a member of Allur Group. It is first plant in Kazakhstan that meets requirements of industrial assembly where such operations are carried out as welding, painting and assembly of bodies. The plant is the only enterprise that produces all types of vehicles.
EkibastuzFerroAlloys LLP is implementing a project for construction of a new plant for production of ferrosilicon in Ekibastuz Town, Pavlodar Region. The facility has an annual production capacity of 240,000 tons of products. The project is will be implemented between 2021 and 2023. Location of the plant was chosen given proximity of a state district power station, convenient logistics, and availability of water utility named after V. Satpayev.
Altyn Shyghys LLP is a new oil extraction factory in East Kazakhstan Region for deep processing of oilseeds. It produces unrefined sunflower oil and oilcakes.
Press Service of EIC KazakhExport JSC
