Export Credit Agency of Kazakhstan cooperates with major German financial institutions
A Kazakh-German roundtable convened during the official visit of German Chancellor Olaf Scholz to Astana. The event saw the participation of representatives from government agencies and major businesses from both countries. The attendees explored new opportunities for advancing bilateral economic relations across diverse sectors, including agriculture, the processing industry, healthcare, and infrastructure projects.
*Rustam Karagoishin, Chairman of the Board of Baiterek Holding
Rustam Karagoishin, Chairman of the Board of Baiterek Holding, highlighted that the Kazakh-German negotiations mark a significant milestone in strengthening economic cooperation. He affirmed the holding’s commitment to actively supporting the execution of joint projects through innovative financial solutions.
"We recognize tremendous potential in developing bilateral relations, particularly in renewable energy, the agro-industrial sector, transport and logistics, and industrial production. We are confident that the agreements signed today will lay the groundwork for successful new initiatives, enabling us to strengthen our economic ties with Germany and achieve our ambitious goals for sustainable and inclusive growth in Kazakhstan," stated Rustam Karagoishin.
*Export Credit Agency of Kazakhstan and Deutsche Bank sign the Memorandum of Cooperation
During the event, Export Credit Agency of Kazakhstan signed Memorandums of Cooperation with leading German financial institutions – Deutsche Bank and Helaba Bank. These agreements establish favorable conditions for export lending and trade financing, enabling Kazakhstani enterprises to acquire modern German equipment and technologies, thereby enhancing their competitiveness in the global market.
Allen Chayzhunusov, Head of Export Credit Agency of Kazakhstan, expressed confidence that the signed memorandums will serve as a solid foundation for fruitful cooperation between the parties.
"Collaboration with Deutsche Bank and Helaba will empower us to implement large-scale investment projects in modernizing Kazakhstani enterprises. We are eager to finance the acquisition of German technologies and equipment under the insurance coverage of Export Credit Agency of Kazakhstan. We believe it will significantly boost our country's export potential," stated Allen Chayzhunusov.
*Export Credit Agency of Kazakhstan and Helaba Bank sign the Memorandum of Cooperation
Sardor Kolmakhmedov, Director of the Trade and Export Finance Department at Landesbank Hessen-Thüringen Girozentrale (Helaba Bank), emphasized the bank's active role in financing investment projects between Germany and Kazakhstan. He explained that the decision to sign a memorandum with Export Credit Agency of Kazakhstan is driven by a commitment to enhance cooperation in long-term project financing for German and European companies operating in Kazakhstan. Furthermore, Helaba aims to support the expansion of Kazakhstan's exports to Central Asian and European markets.
German investments primarily target the non-resource sector, including the processing industry, chemical production, construction materials, transport, and the agro-industrial complex. Export Credit Agency of Kazakhstan is prepared to offer comprehensive support to German companies interested in pursuing export-oriented projects in Kazakhstan.
Currently, there are 752 enterprises in Kazakhstan funded by German investments. The list of Kazakh-German investment projects includes 63 initiatives, totaling over $54.4 billion.
Background information:
- Helaba (Landesbank Hessen-Thüringen) is a major German commercial bank, established in 1953 through the merger of several regional banks. It offers financial services to corporate clients, banks, institutional investors, and the public sector in domestic and international markets. Additionally, Helaba is a vital service provider for 40% of German savings banks, delivering centralized clearing services.
- Deutsche Bank, headquartered in Germany, is one of the world’s largest financial conglomerates. The bank provides a diverse array of financial services, including retail banking, investment services, and corporate finance, reaching millions of customers across the globe.
