MOSCOW, October 20 (RIA Novosti) - Russian Finance Minister Alexei Kudrin said Thursday that the key documents on the establishment of a joint Russian-Kazakh bank would be ready by the year's end.
"The preparation of constituent documents of the joint Russian-Kazakh bank is at its final stage," Kudrin said at a video conference for investors.
Kudrin said Russia would contribute an initial $400 million to the bank, whose total capitalization will be more than $1.5 billion.
Russian President Vladimir Putin earlier said the investment bank, with headquarters in former Kazakh capital Almaty, would be run by a Russian representative and that an affiliate would be opened in St. Petersburg.
