EDB finances supply of uranium from Kazakhstan to Russia

The Euro-Asian Development Bank continues to pre-export financing of large supplies of uranium from Kazakhstan to Russia. This includes the contract signed between the EDB and JSC JV "Zarechnoe" engaged in production of uranium-containing ore in South Kazakhstan region.

According to him, the bank will provide the company a loan of $ 20 million for a period of 3 years. The funds are intended to cover a borrower services and materials necessary for the production of uranium and its subsequent export sales.

The project will have a significant impact on the development of a single market of uranium ore and its products between Russia, Kazakhstan and the Kyrgyz Republic. The borrower is a joint Kazakh-Russian-Kyrgyz venture. The ultimate beneficiaries are the company's State Corporation "Rosatom" and JSC "NAC" Kazatomprom "and the group of companies" Renova &raq uo;, owner of OAO "Balta Mining Plant" in Kyrgyzstan.

"The current project — not the first time for the bank to Zarechnoye uranium deposit. Back in 2007, we funded project of its industrial development, providing targeted $ 63 million — said the deputy chairman of the EDB Dosmukametov rope. — That project was one of the first in the investment activities of the Bank, it was realized after only six months after our bank has earned. "

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