BTA, KazAgro Pledge Cooperation12.03.2009 / Press-service
JSC BTA Bank and JSC NH KazAgro have signed a memorandum stating their joint intention to provide support to the farming sector as part of the government’s programme of economic and financial stabilization in 2009-2010.
The parties plan to join forces in creating an efficient mechanism for providing funding required for sowing and harvesting seasons and, also, for various investment projects related to the development of infrastructure for grain export and production of fruit and vegetables with the help of the drip irrigation technology.
In particular, an agreement has been reached whereby government money will be provided by BTA Bank and KazAgro to finance projects through KazAgro subsidiaries JSC Food Contract Corporation and JSC Agrarian Credit Corporation against commercial bank guarantees or grain receipts.
Out of the total KZT 84 billion made available to KazAgro for guarantees to commercial banks, KZT 13 billion has been earmarked for BTA Bank.
Also, under the memorandum, BTA will be guaranteeing obligations of such agribusiness majors as Ivolga Holding, Batt Agro, etc.
BTA Group is a leading banking network in the CIS.
The network of BTA’s partner banks extends to Russia, Ukraine, Belarus, Georgia, Armenia, Kyrgyzstan and Turkey. BTA’s representative offices operate in Russia, Ukraine, China, UAE and the UK.
BTA Bank has one of the largest branch networks in Kazakhstan (22 branches and 279 service locations) along with an extensive chain of ATMs (787) and self-service terminals (160). BTA serves about 1.3 million retail and 150,000 corporate customers.
JSC KazAgro, a state-owned holding company, was formed pursuant to the government’s policy aimed at creating a competitive and export-oriented farming sector in Kazakhstan.
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