Tajik aluminium producer TALCO to get insurance coverage for EDB loan from KazakhExport
On 18th March 2021, Tajik Aluminum Company, TALCO, the Eurasian Development Bank (EDB) and export insurance company, KazakhExport signed an MoU for attracting financing for TALCO under KazakhExport insurance coverage in order for TALCO to procure products from Kazakhstan required for the production of aluminium.
The largest industrial enterprise in Tajikistan, TALCO is a 100% state-run company, whereas, KazakhExport is a subsidiary organisation for the promotion of the exports of Baiterek National Management Holding’s non-primary goods and services.
The MoU underwrites that KazakhExport is all set to deliver EDB insurance coverage for up to $15 million under an EDB loan for TALCO to recharge the Tajik aluminium producer’s working capital for purchasing products made by Kazakh manufacturers, as KazakhExport said in a statement.
KazakhExport also added: “Within the framework of the document, cooperation in the field of industrial cooperation is planned, including an increase in the volume of exports of calcined petroleum coke, mortar and electrothermal ferrophosphorus from Kazakhstan to Tajikistan.”
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