Italy’s state bank CDP provides €200 million loan to DBK to enhance sustainable development and trade in KazakhstanThe Development Bank of Kazakhstan (DBK) has signed a €200 million loan agreement with Cassa Depositi e Prestiti (CDP), which will be backed by a guarantee from the Italian export credit agency SACE.According to CDP's press release, "The primary goals of the new €200 million financing,  with a Push Strategy guarantee from SACE for the Development Bank of Kazakhstan (DBK), are to expand the range of resources available for sustainable development projects in Kazakhstan and to increase trade between Italian and local companies.""This deal marks CDP's first operation in Kazakhstan. The funds will be directed toward developing key economic sectors that promote the country's sustainable development. Special attention will be given to priority areas such as renewable energy, energy efficiency, transportation, healthcare, and water supply infrastructure," the DBK's press release noted.According to Kazakhstan's Ministry of Trade and Integration, Italy's Deputy Foreign Minister, Edmondo Cirielli, announced plans to establish a credit line through CDP in Kazakhstan. "We are confident that our relations will continue to grow. These meetings represent an important milestone, concluding a six-year cycle of cooperation," he added.Italy is Kazakhstan's third-largest trading partner. In 2023, total trade between the two countries reached $16.1 billion, a 7.8% increase from the previous year, with Kazakh exports to Italy amounting to $14.8 billion and imports totaling $1.2 billion. In the first eight months of 2024, trade volume increased by 33%, reaching $13.8 billion, with Kazakh exports rising 36% to $12.9 billion.Established in 2001, the Development Bank of Kazakhstan provides medium- and long-term financing for investment projects in production infrastructure and non-resource sectors, facilitating both foreign and domestic investment. It operates under the national holding company Baiterek.CDP, the Italian national development institution, was founded in 1850 in Turin. (ICE ALMATY)

Fonte notizia: INTERFAX