|
Russia, Kazakhstan to creat joint bank to boost investment in ex-Soviet region
(Xinhua)
Updated: 2006-01-13 14:53
Leaders of Russia and Kazakhstan on Thursday clinched a deal to establish a
joint bank in a bid to bring more investment to the ex-Soviet region, news from
Astana, the Kazakh capital, said.
Under the agreement, Russia will contribute two-thirds of the Eurasian
Development Bank's charter capital and Kazakhstan one third .
Kazakhstan's newly elected President Nursultan Nazarbayev said via the bank
his country will offer credits to those ex-Soviet countries, so as to help them
restore economic ties, disrupted after the fall of the Soviet Union.
The creation of the new bank, based in the Kazakh commercial capital
Alma-ata, witnesses the consistent expansion of the two nation's financial ties,
said Russian President Vladimir Putin.
On Wednesday, Putin attended Nazarbayev's presidential inauguration in
Astana, during which he held talks with Nazarbayev, who will serve as the head
of his country for another seven years.
After the talks, Nazarbayev disclosed that in 2005, the trade turnover
between the two nations has amounted to around 10 billion U.S. dollars, a 35
percent increase compared with the amount of last year.
He added that the two neighboring countries will strive to double the trade
volume in the next few years.
|
