Article 5. Powers Of The Development Bank Of The Law On The Development Bank Of Kazakhstan

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The Development Bank has the right to:

1) determine its credit policy in accordance with the Memorandum;

2) to determine the expediency of financing on a repayment basis of the project based on the results of a bank examination and analysis of the borrower's creditworthiness;

3) to involve experts and consultants in the implementation of banking expertise;

4) to attract borrowed funds, including from the national and local budgets, within the limits defined in the Memorandum;

4-1) place available funds, including borrowed funds, on the domestic and foreign markets of financial instruments within the limits and in the manner specified in the Memorandum;

5) carry out the selection of projects and their crediting, including co-financing, taking into account the restrictions set out in the Memorandum;

6) issue its own guarantees, the total amount of which is set out in the Memorandum;

7) to act as an organizer and participant of borrowing with the participation of domestic and foreign banks and other financial institutions;

8) act as an agent of legal entities belonging to the national management holding group for their financing;

9) carry out restructuring;

10) participate in syndicated financing and (or) perform the functions of an agent bank and (or) a collateral manager in accordance with the legislation of the Republic of Kazakhstan on project financing and securitization.

The Law of the Republic of Kazakhstan dated April 25, 2001 No. 178.

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Republic of Kazakhstan

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