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Samruk - Kazyna to cooperate with Renaissance Capital

Almaty. November 28. Kazakhstan Today - The Fund of National Welfare Samruk - Kazyna and Renaissance Capital declared on their cooperation within the created fund of stressful assets, initiated by the government of Kazakhstan, directed at support of the financial sector of the country within the accepted stabilization program, the agency reports with reference to the press centre Samruk - Kazyna. According to the message, Renaissance Capital will play the role of the operational partner of Samruk-Kazyna fund and will take part in development of its strategy. Samruk - Kazyna and Renaissance Capital plan to work together with the government advisers to re-structure bank stressful assets. As informed earlier, in July of 2008 the Prime Minister of Kazakhstan, Karim Masimov, charged three Ministries: Finance, Economic and Budgetary Planning, and Justice - along with the National Bank and Agency for Regulation and Supervision of the Financial Market and Financial Organizations to consider the opportunity of creation of fund Samruk-Kazyna. The Minister of Finance of Kazakhstan, Bolat Zhamishev, informed in September, 2008 that the Fund of stressful assets will receive $1 billion from the budget and $5 billion from the market." The fund will begin its work this year.

Resourse: Kazakhstan Today

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