TRANSKAPITALBANK (TKB) successfully arranged financing of electric power storages, manufactured by TOO “Kainar-AKB” from Kazakhstan into Russia.
The financing was granted in Russian Roubles by “KazakhExport” Export Insurance Company JSC under the letter of credit, issued by TKB and confirmed by Sberbank Kazakhstan.
Cooperation with KazakhExport enables TKB to provide its customers entering into cross-border trade transactions with their Kazakh counterparties with competitive terms for import LC financing within the existing national export facilitation programmes promoted by the above mentioned ECA.
KazakhExport is the only specialized insurance company which is the Republic of Kazakhstan development institution carrying out the functions of an export-credit agency. The functions of KazakhExport were stipulated in YY 2010-2014 State Program for Accelerated Industrial-innovative Development of Kazakhstan so that to establish adequate financial mechanisms to support the export of Kazakhstan manufacturing sector products to foreign markets.
KazakhExport provides export manufacturing sector enterprises and second-tier banks with insurance protection against the risk of non-payment in their foreign trade operations, and ensures the safety of export transactions.