The Eurasian Development Bank (EDB), KazakhExport Export Insurance Company (KazakhExport) and Tajik Aluminum Company (TALCO) signed on March 18 a memorandum of cooperation for arranging financing for TALCO under KazakhExport insurance coverage in order for TALCO to purchase products from Kazakhstan needed for the production of aluminium.
TALCO is the largest industrial enterprise in Tajikistan and is 100%-owned by the government. KazakhExport is a subsidiary organisation for the promotion of the exports of Baiterek National Management Holding’s non-primary goods and services.
Under the memorandum, KazakhExport is ready to provide EDB insurance coverage for up to $15mn under a EDB loan for TALCO to replenish the Tajik firm’s working capital for purchasing products made by Kazakh manufacturers, KazakhExport said in a statement.
“Within the framework of the document, cooperation in the field of industrial cooperation is planned, including an increase in the volume of exports of calcined petroleum coke, mortar and electrothermal ferrophosphorus from Kazakhstan to Tajikistan,” KazakhExport said.
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