ANNOUNCED AS TEMPORARYNo
On 23 April 2015 the government of the Republic of Kazakhstan approved with Resolution No. 271 the terms of the financing of "RG Brands Kazakhstan" ("the company"). The state financing is allocated through 'Development Bank of Kazakhstan".
It is in the form of a credit line at the amount of 3 billion tenge (16.8 million USD as per the April 2015 exchange rate) for a period of 39 months. The transaction is financed in order to support Kazakh exports as part of the the New Economic Policy "Nurly Zhol".
Specifically, the funds allocated through "Development Bank of Kazakhstan" are to cover the working capital needs of the company, related to its production cycle, including the purchase of raw materials, packaging, production and promotion of products in export markets.
The GTA includes state guarantees and other financial incentives that are likely to affect the restructuring and performance of firms facing international competition, whether from imports, in export markets, and from foreign subsidiaries.
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