Baiterek attracts 500 mln yuan loan from China's ICBC to finance manufacturing sectorThe National Management Holding Baiterek has attracted another long-term bank loan amounting to 500 million yuan from the Industrial and Commercial Bank of China (ICBC), according to a statement from the holding."Attracting a loan in China's national currency opens up additional prospects for cooperation with Chinese partners and suppliers, and also promotes the expansion of export and import operations," the statement notes.It is specified that the attracted funds will be directed towards "financing projects in the manufacturing sector of the economy."ICBC is the largest commercial bank in China and the world. It is part of China's Big Four largest banks and controls one-fifth of the Chinese banking sector.National Management Holding Baiterek JSC  is an integrated development institution aimed at supporting entrepreneurship, developing the agro-industrial complex, and providing housing for the country's population. The ultimate beneficiary of the holding is the Government of Kazakhstan.The tenge to yuan exchange rate as of July 9 is 72.45 tenge per yuan. (ICE ALMATY)

Fonte notizia: INTERFAX