OREANDA-NEWS. June 09, 2011. Development Bank of Kazakhstan (DBK) and Export-Import Bank of Korea (Korea Eximbank) signed an interbank export-credit agreement, reported the press-centre of KASE.

The signing ceremony was attended by Zhasulan Madiev, Managing Director, member of DBK Management Board, and Mr. Jai Min LEE, member of Korea Eximbank Board of Directors in the presence of both banks' representatives.

Signing of this agreement with Korea Eximbank will extend possibilities for DBK of financing its clients co-operating with leading companies from the Republic of Korea.

Both parties stressed that the credit agreement is a major part of long-term co-operation aimed at fostering of trade and economic relationships. Upon mutual agreement funds dispensed for implementation of joint project will be increased over time leading to extension of trade, emergence of new participants, boost of mutually beneficial trade.

Export-Import Bank of Korea is a specialized financial institution rendering a broad range of services covering demands of the national economy and deepening economic co-operation with foreign partners.

Development Bank of Kazakhstan was set up 2001. Main objectives include promotion of the state's investment activities, development of industrial infrastructure and manufacture, providing assistance in raising external and internal investments.