OREANDA-NEWS. Subsidiary Bank "Sberbank of Russia" JSC (Almaty), whose bonds are officially listed on Kazakhstan Stock Exchange (KASE), today provided KASE with the following press-release:

Volume of funding in 4 billion tenge is allocated by Kazakhstan Development Bank (KDB). Financing  of  projects will be carried out as part of the entrepreneur subjects support  program  in the sphere of manufacturing industry.

These funds were allocated from the National Fund within   the second tranche from 1 trillion tenge intended for development of economy  and sale of  infrastructure projects of the country. The total amount was 100 billion tenge,50  bln. tenge out of which are placed  through  Kazakhstan Development Bank JSC.

"Sberbank is the constant participant of interbank lending programs  and we thank  Kazakhstan Development Bank for their trust again. This year the bank  in advance used 11 billion tenge allocated by KDB,  having financed 5 large projects in such spheres as mechanical engineering, metallurgy, chemistry, petrochemistry,  food industry for the total amount of 15,7 billion tenge,
having  invested 4,7 billion - own funds  of Sberbank. It is a good example of cooperation of  state and commercial banks for sale  of new projects. We are sure that through joint efforts, we can positively  influence on improvement of economic indicators of the country.

Within a new tranche,  the enterprises of real sector of economy will obtain financing for sale  of investment projects", -  Chairman of the Management Board of Sberbank in Kazakhstan Alexander Kamalov noted.