Development Bank of Kazakhstan JSC

05/30/2023 | Press release | Distributed by Public on 05/30/2023 05:10

DBK attracts SINOSURE insurance for its projects

DBK attracts SINOSURE insurance for its projects

Development Bank of Kazakhstan JSC (hereinafter - DBK, Bank) and China Credit and Export Insurance Corporation (hereinafter - SINOSURE) signed a memorandum of cooperation. The document that defines the terms of the partnership was signed by the heads of the two companies.

"This cooperation opens up new opportunities for the implementation of the joint projects with companies and investors from China. SINOSURE's high-class insurance coverage will allow us to attract foreign investment in manufacturing projects on favorable terms,"comments Nurlan Baibazarov, Chairman of DBK Management Board.

SINOSURE, for its part, is ready to provide support, including insurance policies, foreign investment insurance policies and guarantees in cooperation with DBK concerning exports and projects involving Chinese enterprises.

DBK and SINOSURE have already experience of successful joint work - the companies participated in the implementation of the project for the modernization and reconstruction of Shymkent Oil Refinery. This transaction, as noted by Song Shuguang, Chairman of the Board of SINOSURE was recognized by international experts as one of the best in 2017.

SINOSURE's visit to Kazakhstan and the agreements reached were the result of the visit of the President of the Republic of Kazakhstan Kassym-Jomart Tokayev to China in May this year.

Public Relations Service of Development Bank of Kazakhstan JSC:

Tel.:8 (7172) 79 26 08

Website: www.kdb.kz

E-mail: [email protected]

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+7 (7172) 79 26 79