ANNOUNCEMENT 23 Apr 2015

In April 2015, the government of Kazakhstan announced a change in its trade finance instruments.

NUMBER OF INTERVENTIONS

1

  • 1 harmful
  • 0 neutral
  • 0 liberalising
Inception date: 23 Apr 2015 | Removal date: open ended
Still in force

Trade finance

On 23 April 2015 the government of the Republic of Kazakhstan approved with Resolution No. 271 the terms of the financing of "Kazphosphate". 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 60 months. The transaction supports production and export of yellow phosphorusin the framework of the New Economic Policy "Nurly Zhol".
 
The provided press release of 2 September 2015 states that the borrowed funds at advantegous conditions will be used for the purchase of energy resourses, raw materials, as well as subsequent production and export of yellow phosphorus. The contract for export delivery in the framework of this state support measure is based on a deal concluded with the major Czech company "Fosfa a.s.", specialised in the production of synthetic detergents, food phosphates and phosphate mixtures. Therefore, competitors of the subsidized product in the Czech market have been identified as affected.

AFFECTED SECTORS

 

AFFECTED PRODUCTS