Kazakhstani locomotives are exported to Azerbaijan under insurance support of «KazakhExport» Export insurance company» joint-stock company, the subsidiary of the National Management Holding "Baiterek"
The export delivery is executed by Kazakhstani factory «Locomotive kurastyru zauyty» in accordance with signed financial leasing agreement between «KDB-Leasing», subsidiary of «Kazakhstan Development Bank» and CJSC «Azerbaijani railways».
Project is leaded by «KDB-Leasing» in association with "KazakhExport" under support for Kazakhstani exporters, provided in accordance with new economic policy "Nurly Zhol" and the second five-year plan of SPIID.
The "KazakhExport" was a key player in this transaction by providing insurance coverage of business and political risks for Kazakhstani enterprise. This opened the foreign market and guaranteed security for export supplies of 10 Kazakhstani locomotives.
Along with that, subsidiaries of the National Management Holding "Baiterek" provided for the national exporters the comprehensive range of services, including structuring, financing and insurance coverage throughout the term of this transaction under this project. It is important to note that this the first export transaction for Kazakhstan at international scale under lease financing.
We would like to thank everyone for confidence reposed and look forward to further fruitful cooperation!
Reference: JSC "Export insurance company "KazakhExport", the subsidiary of the National Management Holding "Baiterek" , is in the market since 2003 (former name was JSC "State Insurance Company for insurance of export credits and investments "KazakhExport"). "KazakhExport" is the only specialized insurance company devoted to protection of the interests of national exporters of the non-oil and gas products by provision of insurance coverage of business and political risks.
