ANNOUNCEMENT 31 Jul 2015

In July 2015, the government of Kazakhstan announced a change in private-sector financial support.

NUMBER OF INTERVENTIONS

1

  • 1 harmful
  • 0 neutral
  • 0 liberalising

SOURCE

Press release of the Kazakhstan Development Bank dated 31 July 2015, https://www.kdb.kz/en/ajax/project.php?PROJECT_ID=7724&LANG=EN_

Inception date: 31 Jul 2015 | Removal date: open ended

State loan

According to a press release dated 31 July 2015, the Development Bank of Kazakhstan JSC (a subsidiary of 'Baiterek' Holding) has provided a loan for a period of up to 20 years for the renewal of passenger rail cars with the ultimate goal to intensify high-speed movement on key routes. 
 
The passenger rail cars renovation, to be done by Tulpar-Talgo (a joint venture established in 2011 between the national railway company of Kazakhstan Temir Zholy and the Spanish company Talgo) is to be performed as part of ten key rail transportation routes (Astana, Almaty, Karaganda, Pavlodar, Kostanay, Aktobe, Atyrau, Uralsk, Kyzylorda, Mangyshlak station). The project with total cost of 5 billion tenge (28 million USD) is financed with funds of the National Fund.
 
A state measure in the GTA database is assessed solely in terms of the extent to which its implementation affects the extent of discrimination against foreign commercial interests. On this metric, the state aid proposed here is discriminatory.

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