Kapitalbank has signed a trilateral agreement with the Development Bank of Kazakhstan (DBK) and the Export Credit Agency of Kazakhstan (ECA) aimed at developing strategic partnerships and expanding financial cooperation between Uzbekistan and Kazakhstan.
The document solidifies the parties' long-term, mutually beneficial cooperation in trade finance and export transaction insurance. The agreement provides for supporting deals related to the supply of goods and services from Kazakhstan to Uzbekistan through trade finance and insurance coverage instruments, including interbank loans, letters of credit, and guarantees, within the limits established by the DBK and ECA.
During the negotiations, the parties discussed several potential projects of mutual interest, including initiatives in industry, construction, and consumer goods supply.
“Signing this agreement is a logical step in developing our regional partnership and strengthening economic ties between Uzbekistan and Kazakhstan. It is important for us not only to support our clients' foreign trade operations but also to create a clear and reliable financial environment for them. This will enable businesses to implement cross-border projects more quickly, with reduced risks and costs at every stage,” noted Sardor Ismailov, First Deputy Chairman of the Management Board of Kapitalbank.
“Uzbekistan remains a strategic trading partner for Kazakhstan in the region. Cooperation with Uzbekistan's leading banks creates a seamless financial infrastructure. This will allow our businesses — from construction companies to manufacturers of everyday goods — to enter the Uzbek market with ready-made financial solutions,” emphasized Marat Yelebayev, Chairman of the Management Board of the DBK.
The agreement lays the foundation for further expansion of trade finance and the development of foreign economic cooperation in the region.
The Development Bank of Kazakhstan (JSC) is a state development institution specializing in the financing and support of medium- and long-term investment projects.
The Export Credit Agency of Kazakhstan (JSC) is a specialized financial institution that provides insurance protection and support to exporters from the Republic of Kazakhstan.