EDB, National Bank of Kazakhstan enter into swap agreement

AKIPRESS.COM - The Eurasian Development Bank (EDB) and the National Bank of Kazakhstan this August signed a swap agreement to conduct medium-term RUB/KZT swaps, the EDB reported.
"This is an important step in the strategic partnership between the EDB and the National Bank of Kazakhstan. The EDB plans to use the tenge raised as a result of these transactions to finance its investments in Kazakhstan. The National Bank of Kazakhstan intends, in turn, to channel the rouble proceeds to partially meet the demand for this currency in Kazakhstan's market," Andrey Beliyaninov, Chairman of the Management Board at the EDB, commented.
According to Andrey Beliyaninov, the sides have already effected their first transaction under the agreement.