At the same time, the mortgage crisis in the United States gave rise to the world economic crisis. Since Kazakhstan is integrated into the world economic community, the impact of the crisis did not spare us either. To achieve its goals, Kazphosphate LLP needed affordable financing. And at this difficult time, DBK supported us by approving a credit line for USD 50 million. We remember with gratitude this support, which gave us an opportunity to increase the production and sales.
The Bank played an important role in maintaining the economic stability of the Company in 2015, when the next global crisis again affected our activities. It was difficult to remain at the level of the 2014 indicators due to the objective reasons of decreasing in the sales volumes. To support the Company, on August 17, 2015, DBK opened a credit line for us, amounting to KZT 3 billion for the purchase of raw materials, materials and services for the pre-export operations. Then the line was increased up to KZT 7 billion. As a result, we not only increased the production, but also increased the tax payments to the country's budget - from KZT 6,689 million in 2014 up to KZT 20,615 million in 2020.
Besides, within the frames of the SPFIID 2015–2019, with the financial support of the Halyk Savings Bank of Kazakhstan and DBK, we have implemented an investment project for the reconstruction of the WPPA-1 technological system of the Mineral Fertilizers Affiliate Kazphosphate LLP (Taraz). This made it possible to increase the production of mineral fertilizers from 130 thousand tons per year up to 300 thousand tons in 2017. In the midst of the pandemic in August 2020, the term of the credit line, which was opened five years ago, has expired and has been fully repaid by us. And in September 2020, we have signed a new Agreement with DBK to open a credit line for 3 years with a limit of KZT 7 billion.
Today, Kazphosphate LLP operates in the Zhambyl, South Kazakhstan and Akmola regions. We provide permanent jobs for 6,300 people from the six cities and suburbs. Around the Company there have been formed up to 40 SMEs, aimed at providing the services and supplying the goods for the production activities of Kazphosphate LLP. Financing of these services and goods in 2020 exceeded KZT 9 billion.
Here is a multiplicative effect, which has become possible largely due to the financial partnership with the Development Bank and the Government support of business on the whole. That is why we believe that the Bank plays a very important role in the activities of the Kazakhstani companies. DBK helps them not only to maintain and increase their production volumes, but to open up completely new business directions and new markets. In particular, within the frames of the “Nurly Zhol” state program, DBK has provided us with export financing. This has allowed the Company to become the largest exporter of phosphorus and phosphorus-containing products: in 2020 alone the export sales have amounted to KZT 137.6 billion.
The Development Bank of Kazakhstan is an important partner for us, which has been among the first to provide a significant support to our business and keeps doing it up till now. Its 20 years anniversary in the face of constant changes upon the formation of economy is a serious date for a credit institution. The experience accumulated over these years is an important competitive advantage of the Bank, enabling it to quickly and flexibly respond to any requirements of our time, to play a significant role in the life of the Kazakhstani business community.
On behalf of the corporate team of Kazphosphate LLP, numbering six thousand employees, please accept my sincere congratulations on the Bank anniversary. Let this significant date be the beginning of the stage of conquering new heights and building capacity. We wish DBK successful projects, achievement of all set goals, stability and prosperity, so that even such unpredictable events as a pandemic could not disrupt plans. And I wish each employee health, happiness and inexhaustible energy. We are glad to be your partner and look forward to many years of interesting, fruitful and mutually beneficial cooperation!
