www.inform.kz reports that,
ASTANA. August 11. KAZINFORM Following up the results of Kazakh President Nursultan Nazarbayev’s visit to Mongolia on August 6-7 it was decided to establish a Kazakh-Mongolian Direct Investments Fund for deepening and expanding spheres of economic cooperation between the two countries’ business circles.
The Fund will be founded from Kazakhstani side by «Kazyna Capital Management» (ÊÑÌ), subsidiary firm of “Kazyna” Sustainbale Development Fund and from Mongolian side – by the Ministry of Industry and Trade and the Agency of Foreign Investments and Foreign Trade. The total sum of capitalization is expected to make USD 100 mln, the investment period is 5 years, the term of activity is 10 years, Kazinform has learnt from the KCM press service.
The Fund’s aim is financing of commercially compensated, economically effective infrastructural and investment projects in such spheres as energy, transport and logistics, financial sector, telecommunications, tourism, light and food industry, ore-mining industry, production and processing of energy products on Mongolian territory.
The sides hope that the Fund will become a financial bridge between the two states and will allow to participate in financing of large projects in Mongolia directed on development and integration of the both countries’ economies.