Russia's VEB lends Kazakh peer $300 mln

AKTOBE, Kazakhstan, Sept 22 (Reuters) - Russia's state-owned Vneshekonombank (VEB) opened on Monday a $300 million credit facility for the Development Bank of Kazakhstan to finance imports from Russia, VEB said.

The credit facility has been extended for a term of up to 15 years, VEB's chief executive, Vladimir Dmitriyev, told reporters after signing the deal.

Russia is Kazakhstan's main trading partner, accounting for the bulk of imports into the Central Asian state.

The state-owned Development Bank of Kazakhstan provides financing mostly for projects aimed at diversifying the country's economy away from oil and metals. (Reporting by Denis Dyomkin; Writing by Olzhas Auyezov; Editing by Greg Mahlich)