MOSCOW -- ABN Amro Bank will open a joint venture bank in Kazakhstan on July 1 with equity participation from the International Finance Corp., bank officials said.

The bank, based in the Kazakh capital Alma-Ata and capitalised at $10 million, will be owned 51% by ABN-AMRO, 29% by Kazakhstan's commercial Kramds Bank and 20% by International Finance, a World Bank affiliate that finances private-sector projects in developing countries.

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