Kazakhstan Development Bank starts financing Phase 1 of the construction of the Saryarka main gas pipeline jointly with the Eurasian Development Bank
/KASE, July 5, 2019/ – The Development Bank of Kazakhstan (Nur-Sultan), whose 
bonds are officially listed on Kazakhstan Stock Exchange (KASE), has provided 
the following press release to KASE:


The Development Bank of Kazakhstan (a subsidiary of the Baiterek National 
Management Holding, hereinafter, the Bank, DBK) and the Eurasian Development Bank 
(the EDB) opened financing to construct Phase 1 of the Saryarka gas pipeline 
(hereinafter, the Project).  The respective agreement was signed in the city of 
Nur-Sultan on 3 July.

According to the financing scheme approved by the banks, the EDB, as the syndicate 
leader, purchased AstanaGas KMG’s (a subsidiary of the Samruk-Kazyna Sovereign 
Wealth Fund) ten-year bonds for a total of KZT 102 billion. The transaction was 
financed from the EDB’s own funds in the amount of KZT 51 billion, and a loan for 
the same amount from the DBK.  Hence, the total project financing extended by the 
DBK and EDB amounted to KZT 102 billion, and the total project cost is KZT 267.3 


Full version of the press release (in Russian)